Paid time off refers to planned time away from your job where you still receive pay. Your employee handbook or contract will outline how many hours you have and how this time is earned or accrued.
Your vacation time is the number of PTO hours or days you can take off from your regular work schedule. Companies usually try to offer paid and unpaid vacation time to their employees.
Unlimited PTO is another benefit that some employers have started to offer. This trust-based structure allows people to take time off when they need it.
Although one study found the pandemic prevented 92% of Americans from taking vacations, eligible employees weren’t using their PTO long before the pandemic hit.