Generally no. Most engineering jobs fall in the "salaried professional" category, which means that no over time is paid and that you're expected to work for 40 hours a week. I've seen a lot of nice managers allow employees to take some downtime after a stressful or overworked period, but there's not a standard policy at most jobs. Jobs where "punching the clock," usually hourly paid positions, can get a little closer to that, but usually only within a pay period. Example: if my friend puts in a little bit extra each day, he might leave early on Friday, but can't accrue that outside of the two week paycheck to paycheck period.
