Time Is Money: Calculate The Real Cost Of Those Corporate Meetings

Ever been caught in a meeting you thought was a waste of time and money? Well, PayScale has created a little program that lets you put a number on exactly how much those meetings are costing your company.

meetingmisersmall.pngThe program, called Meeting Miser, calculates the a meeting’s cost down to the cents per minute. Meeting cost calculators are nothing new, but Meeting Miser incorporates real salary data from their site to tally the hourly cost for you. As a bonus, it also works pretty well on the iPhone.

All you have to do is give the program info about where you’re located and the titles of the people at the meeting. Just for kicks I calculated a theoretical meeting between two corporate C-class officials and their VC in San Francisco. Turns out their meeting burns about a venti Starbuck’s latte per minute.

But for some, Meeting Miser is more than just an idle curiosity or analytical overkill. SmartSheet has actually been using the program to keep their eye on the ball and cut out unnecessary meetings.