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Unlimited vacation time. No accrual/payouts when you leave. I know many don’t like it but I’ve found it effective for managing lulls (eg. Signing off at 1pm on a Friday) without having to worry about wasting leave. A lot depends on your team and project culture though.
Discretionary time off is vacation. You no longer have to accrue the hours to take the time off. It is not unlimited. You will need to work with your Manager for the approval.
It's basically the same as PTO except you don't have to worry about accruing it and Guidehouse doesn't have to worry about paying you out for it when you leave.