To add alternate experience to the children of this post, I worked for a company w/ unlimited vacation, and while I took very little vacation, there was no pressure from outside to limit it. Other people tended to work less than I did and took vacation more or less in line with what they would have done elsewhere.
I wouldn't take unlimited vacation as a sign of anything other than "we expect you to be reasonable and we don't want to micro-manage everything." Although if my experience had been different, I might think different.
I currently work for a multinational with an unlimited vacation policy and it's pretty obvious people in places where PTO is protected by law (i.e. not the US) take far more.
It's also yet another way to ensure people who know they can just walk into another job (or that they won't get fired/laid off/never promoted) take loads of vacation, while people who _really_ need to be sure they stay employed or who might be having a harder time at work are always afraid to ask for it.
Buddy of mine worked for a company with unlimited PTO until recently. He would take 2, 3 months off because, as he put it, "I had them over a barrel" (he is extremely good at what he does). His colleagues, for the most part, did not.
> I wouldn't take unlimited vacation as a sign of anything other than "we expect you to be reasonable and we don't want to micro-manage everything."
In truth, though, the sole reason companies use unlimited vacation policy is that, in the US at least, it means unused vacation time does not accrue as a liability on the balance sheet, and companies aren't required to pay out for it if you leave.
It also alleviates the company from ever having to pay out unused vacation time. That is a disadvantage for the employee, but with a tremendous upside.
I also have unlimited PTO and I definitely prefer it. No more worrying about hours, rollover limits, accumulation rate, how far I can go negative, etc. No more wading through vacation schedules wondering if the office is open on New Years Eve.
Same thing with free lunches - yeah, of course it keeps people in the office and possibly causes them to subconsciously work longer. But also...I get a free freaking lunch and I don't have to worry about it.
Perhaps we're just completely opposite. When I have free lunch I just get fat. I also like to squeeze in a workout on my lunch break, and the quiet pressure to stay in the office and have your free lunch opposes that.
I wouldn't take unlimited vacation as a sign of anything other than "we expect you to be reasonable and we don't want to micro-manage everything." Although if my experience had been different, I might think different.