What is Meeting Cost and Why Track It?
Meeting cost is the total expense of a meeting, calculated by multiplying the number of attendees by their average hourly rate and the meeting duration. This "real-time" cost reveals the true financial impact of meetings, helping teams and organizations make informed decisions about meeting frequency, duration, and necessity.
Most organizations don't track meeting costs, leading to inefficient meeting cultures with unnecessary or overly long meetings. By visualizing the real-time cost accumulating during a meeting, teams can be more mindful of time, make meetings more efficient, and justify investing in meeting-free days or async communication alternatives.
How Our Meeting Cost Calculator Works
Our calculator provides real-time cost tracking:
- Enter the number of attendees in the meeting
- Enter the average hourly rate per person (use salary/2080 hours for annual salary, or actual hourly rates)
- Click "Start Timer" to begin tracking meeting time
- Watch the cost accumulate in real-time as the meeting progresses
- Click "Stop Timer" when the meeting ends to see the final cost
- Use "Reset" to start a new calculation
Calculating Average Hourly Rates
To calculate hourly rate from annual salary:
- Standard Calculation: Annual Salary ÷ 2,080 hours (40 hours/week × 52 weeks)
- Example: $100,000/year ÷ 2,080 = $48.08/hour
- For mixed teams: Calculate average of all attendees' hourly rates
- Include benefits: Some organizations multiply by 1.3-1.5 to include benefits and overhead
Common Meeting Cost Scenarios
- Daily Standup (15 min, 5 people, $50/hr): ~$6.25 per meeting, ~$1,625/year
- Weekly Team Meeting (1 hour, 8 people, $75/hr): $600 per meeting, ~$31,200/year
- Monthly All-Hands (2 hours, 50 people, $60/hr): $6,000 per meeting, ~$72,000/year
- Status Update (30 min, 10 people, $100/hr): $500 per meeting
Best Practices for Reducing Meeting Costs
- Set clear agendas: Define meeting purpose and outcomes before scheduling
- Invite only necessary attendees: Reduce headcount to those who truly need to be present
- Time-box meetings: Set and stick to strict time limits
- Consider async alternatives: Many meetings can be emails, Slack threads, or documents
- Track and review: Use cost data to identify and eliminate unnecessary meetings
- Implement "no-meeting" days: Designate days for focused work without meetings
Frequently Asked Questions (FAQ)
Is this meeting cost calculator free?
Yes, our meeting cost calculator is completely free to use. Track unlimited meetings without any restrictions, registration, or fees.
Should I include benefits in the hourly rate?
It depends on your purpose. For quick estimates, base salary works. For more accurate organizational costs, multiply hourly rate by 1.3-1.5 to include benefits, taxes, overhead, and other employment costs. This gives a truer picture of total meeting expense.
Does this account for different salary levels?
Our calculator uses an average hourly rate. For more accurate calculations with varying salaries, calculate each person's hourly rate separately and sum them, or use a weighted average based on your team composition.
Can I use this for budget planning?
Yes! Track recurring meetings to understand annual costs. For example, a weekly $500 meeting costs $26,000/year. This data helps justify meeting-free days, async alternatives, or process improvements.
Does the timer continue if I close the browser?
No, our timer runs in your browser and stops if you close the tab. For longer tracking sessions, keep the browser tab open. Consider using a mobile app or desktop timer for extended tracking across browser sessions.