Meeting Cost Calculator
Ever wonder about the true price of a meeting? Translate time into money with our free Meeting Cost Calculator. Enter your meeting details below to instantly see the financial cost and start making data-driven decisions to boost your team's productivity.
1. Enter Meeting Details
2. See The Real Cost
How to Use This Calculator
Getting a precise cost breakdown is easy. Here’s how:
- Enter Meeting Duration: Input the total length of the meeting in minutes. This allows for precise calculations, whether it's a quick 15-minute sync or a 90-minute workshop.
- Add Number of Attendees: Enter the total number of people present in the meeting. Every person adds to the total cost, so be accurate!
- Provide Average Annual Salary: Input the average annual salary (in your currency) for the attendees. If you have a mix of roles, a blended average works perfectly. The tool will instantly calculate the total cost.
Why Calculating Meeting Costs Matters
Understanding the financial impact of meetings isn't about eliminating them—it's about making them more valuable. Here's how this tool empowers you:
- Boost Accountability: When the cost is visible, everyone is more motivated to stay on topic and contribute meaningfully.
- Justify Time Investment: Is a $500 meeting necessary for a $50 problem? This tool helps you decide if an email or a quick chat would be a better alternative.
- Drive Efficiency: Use the data to advocate for shorter meetings, clearer agendas, and fewer non-essential attendees.
- Foster a Culture of Respect: It shows you value your team's time, leading to higher morale and better time management across the board.
Now What? How to Reduce Meeting Costs
Seeing the number is the first step. Taking action is what drives change. Here are three practical ways to lower your meeting expenses without sacrificing collaboration:
- Set a Clear Agenda & Goal: Every meeting invitation should have a clear, stated purpose and a list of topics. If you can't define the goal, you might not need the meeting.
- Invite Fewer People: Follow the "two-pizza rule." If you can't feed the entire meeting with two pizzas, you have too many people. Only invite essential personnel. Others can be updated with minutes later.
- Could This Be an Email?: Before booking a meeting, ask the magic question. Often, a well-written email, a shared document, or a chat message can achieve the same outcome in a fraction of the time.
Frequently Asked Questions (FAQ)
How is the hourly wage calculated for the meeting cost?
We use a standard business formula to determine the hourly wage. We take the Average Annual Salary and divide it by 2,000 work hours (representing a standard 40-hour work week across 50 weeks a year). This provides a reliable industry-standard hourly rate for the calculation.
Can I calculate meeting costs for different currencies like GBP, EUR, or AUD?
Absolutely. The calculator is currency-agnostic. Simply enter the average annual salary figure in your local currency (e.g., £50,000, €60,000, A$85,000), and the final cost will be calculated in that same currency.
Does this calculator work for virtual meetings on Zoom or Microsoft Teams?
Yes! The primary cost of most meetings is your team's time, which is the same whether the meeting is in-person or virtual. This tool is perfect for calculating the cost of any meeting on any platform, including Zoom, Google Meet, and Microsoft Teams.
What should I do with the results from this calculator?
Use the result to make informed decisions. If a meeting's cost is high, ask if its objective justifies the expense. Consider shortening the duration, reducing the number of attendees, or handling the topic via email or a shared document. The goal is to maximize the ROI of the time spent.