Understanding the cost of meetings is essential for budgeting and resource allocation in any organization. Our Cost of Meeting Calculator helps you estimate the total cost by considering the number of participants, their hourly rates, meeting duration, and additional overhead costs.

## How to Use the Cost of Meeting Calculator?

1. Enter the number of participants attending the meeting.

2. Input the average hourly rate for each participant.

3. Specify the duration of the meeting in hours.

4. Include any overhead costs associated with the meeting.

5. Click on 'Calculate Meeting Cost' to find out the total cost of the meeting.

### Formula for Calculating Meeting Cost

The formula used to calculate the total cost of a meeting is:

**Total Cost = (Number of Participants * Hourly Rate * Duration) + Overhead Costs**

### Example Calculation

If you have 5 participants, each with an hourly rate of $30, a meeting duration of 2 hours, and overhead costs of $50, the total cost will be:

**Total Cost = (5 * 30 * 2) + 50 = $350**

### Importance of Tracking Meeting Costs

Calculating meeting costs helps organizations make informed decisions about resource allocation and prioritizing meetings that provide the most value. By understanding the financial impact of meetings, teams can focus on efficiency and productivity.