I don't get all the backlash in these comments around the "unlimited" policies. Do any of the people opposing the unlimited policies have them in place at their own company? I've had unlimited vacation at my last two companies. I've seen it abused as my previous employer but it's worked out great at my current job. I'm not "peer pressured" by my other coworkers like everyone here seems to think I would be. As long as…
The peer pressure is usually not explicit, it's implied by the ambiguity of the policy and the (unknown to you) true expectations from management. How do you know that your vacation time isn't secretly being counted against you? What if other people aren't comfortable taking it because they want a good performance review? This was definitely happening at the mid-size enterprise shop I used to work at where they couldn't wait to jump on the Unlimited PTO fad because they knew people would end up taking less. It's definitely anti-employee unless the company aggressively demonstrates that it's ok to take as much PTO as you like. With a more definite PTO policy, you don't have this issue as much.
Plus, it's just dumb and kind of insulting. It's not "unlimited," everyone knows that. Just set a reasonable policy so people don't have to guess.