How to use it
- Enter the number of people and the average cost of one person for one hour.
- Enter the length of the meeting in minutes. For a recurring meeting, enter how many times it happens a year.
- Press Start the meter during the meeting to see the cost grow in real time.
How it works
Cost = people × hourly rate × minutes ÷ 60. The cost per minute is people × rate ÷ 60, and per person is rate × minutes ÷ 60. The live meter adds the cost of each short slice of time while it is running, so changing the people or rate midway only affects what follows.
Worked example
Six people at 50 per hour in a 60-minute meeting cost 300, which is 5 per minute and 50 per person. Held every week (52 times), that is 15,600 a year.
Tips
- The number is a rough guide to time spent, not money lost: not every meeting is wasted.
- Cutting a meeting from 60 to 45 minutes saves a quarter of its cost.
- To find an hourly rate from a salary, use the salary converter.