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Are you in the US? PTO and vacation time are basically the same—FTO (for some companies just means “unlimited” time off. Sounds great, but in places like consulting, it can mess with your utilization goals, so people don’t always feel like they can take full advantage. In industry, you probably don’t have those metrics, but it still depends on your workload and team.
PTO is typically a merge of everything including vacation, sick time, and personal leave. Companies with vacation have a separate bank for sick time/personal leave.
I agree with them that it’s a rip off too. Because in my case, I have 5 weeks of vacation with an additional of so many weeks of sick time/personal leave I can use every year.
Advisor 1 hit this on the head. It's much better to have vacation and sick time vs. PTO. Unsurprisingly, most job postings I've seen lately seem to indicate companies are shifting away from that model.
Coach
Interesting. I think this is just a matter of what term they use and not necessarily the time. My company has 3 different “buckets”
Personal Time: a simple 4 days given on Jan 1st that doesn’t roll over. It’s basically to allow for early in the year time off while you’re not fully accrued and/or to take holidays that aren’t on the calendar.
PTO: this is the leave we get annually that increases as the time with the company increases. I would imagine this is the same as vacation time.
UAT: this is unplanned time off and is the same as sick time
Companies I’ve worked with have always just PTO. I think it’s simple to manage. But that’s considering I’ve been lucky to always be healthy and I’m just starting a family so have needed to worry about kids getting sick or having snow days. Looking forward to hearing more insights.