I think it depends on the company. My experience matches adammichaelc's -- "unlimited vacation" in practice meant that you could take a day or two off, provided you worked over the weekend or double time the rest of the week. Nobody dreamed of taking a full week; that would have shown you weren't loyal enough to the company.
I no longer work there. :) And in fact, I since turned down an offer at an otherwise appealing company specifically because they told me they had an unlimited vacation plan. I took the job at a company with a specified number of days, knowing that I would actually be able to use them and not feel pressured to never take time off.
I no longer work there. :) And in fact, I since turned down an offer at an otherwise appealing company specifically because they told me they had an unlimited vacation plan. I took the job at a company with a specified number of days, knowing that I would actually be able to use them and not feel pressured to never take time off.