Use our simple calculator to find out the real cost of your business meetings. Get an overview of all the variables you can tweak to get the most accurate assessment of your meeting costs.
Choose between the two modes for recording your meeting – in real time or retroactively. Use the live timer to capture the duration of any upcoming meeting down to the second. Use the “After meeting” mode to enter the duration from memory or notes.
Pro tip: if you don’t use
automatic time tracking for meetings, you probably don’t have the most precise data on the duration of your work calls. Due to the memory bias, fun meetings seem shorter whereas boring meetings seem to last forever – this leads to a distorted perception of how long your calls last. Use the live timer to capture the actual duration of your meeting or try automatic time tracking for the same precision without the manual effort.
Meeting costs vary greatly depending on the number of participants and their seniority levels. For example, a 1:1 meeting between two colleagues of the same seniority doesn’t cost a lot. Meanwhile, add two senior colleagues to the mix and you have the hourly salaries of 4 people, including senior staff. The difference in the final meeting cost is significant.
Pro tip: automatic time tracking picks up the actual duration of your meetings as well as all meeting details and even participants. This means you can calculate the cost of your meetings retroactively by recalling the exact participants and combining all of their hourly salaries.
Freelancers and professional service providers are not the only people who operate on hourly rates. In fact, any
salaried employee has an hourly rate as well – except they’re paid this rate in bulk for the 40 hours purchased from them every week.
Pro tip: to calculate the real cost of a meeting, you need to know how much an hour of your time costs. If you don’t charge an hourly rate, simply divide your salary by the number of hours you work in that period.
Whatever you charge per hour is not the final cost of your services. Any service provider will tell you how much they pay in taxes, office space rent, and any tools and subscriptions they’re using. The overhead costs will vary depending on the size of your business and local regulations.
Our meeting cost calculator allows you to add a standard 20% or a full 50% to your meeting cost however you choose to consider your “hidden” expenses. Think of any business costs that would be relevant for the purposes of the meeting you’re calculating and add that on top of your hourly rate for a reliable final number.
