work hard and play hard

Buzzword (technically phrase) frequently used to describe the 'culture' of a company, particularly startups or larger corps trying to project a cool image. In serious usage it's intended to imply that while there's a lot to do it's never thankless and that employees enjoy the experience overall; in practice, it generally means you're going to be working a lot of late nights without overtime for fear you won't be seen as a 'team player'; if you're lucky, this is recompensed by an open bar at the company holiday party. You're probably not lucky, if you've taken a job where this was supposed to be one of the selling points.