Vacation Accrual Rates

FY2024 and FY2023 Vacation Accrual Rates

View historical vacation accrual rates

Applying current vacation accrual rates

The MIT fiscal year runs from July 1 to June 30. 

Overview of Vacation Accrual Rates

For research employees, the vacation accrual rate represents vacation time earned and accrued during each cost accounting period for the staff, support staff, and service staff effort on research cost objectives. It is based on the distribution of the research salaries and wages of the employees being accrued. The Institute does not accrue vacation time for faculty or graduate students. When vacation time is used by a research employee, the cost is charged against the Institute’s research vacation liability, rather than the research project. 

The vacation rate also includes a small component for sick pay at retirement for eligible research employees. It represents the cost of unused sick leave provided to support and service staff at retirement. At retirement, sick pay for research personnel is charged against the accrued liability. See Human Resources FAQs on Employee Leaves for more information.

For more information, see a chart of EB and Vacation rate applicability by cost element.

Historical Vacation Accrual Rates