Time/Value Travel Ratio
I was on my way back from Albuquerque to Boston one April and had a four hour layover in Dallas as part of the itinerary. I knew what I was getting into when I purchased the ticket but this was the best flight I could get for this specific trip. There were no direct flights and weighing time, money and route, I took this option. I was completely at the airlines mercy. I did have a choice of a very cheap flight that made three stops but passed on that.
After I had finished checking email, making calls and having a meal, I sat down at the gate and began my wait. This particular day I took a very Zen approach to traveling. I gave into having to wait. I started thinking about how much time I had spent getting to and from airports and waiting in airports from the beginning of the year to that day in mid-April. My total time came out to 88 hours – more than 3 ½ days. I couldn’t get over how ridiculous this was. Then I read online at Forbes.com the value of flying privately for senior executives. Although, I don’t make the salary of the executives that Zach Greenberg used as an example, I could clearly understand and accept the time/travel value ratio.
From Forbes.com:
Take two high-level executives making a combined $4 million annual salary and bonus. Per day of work, they are paid roughly $8,500 each, after subtracting weekends and vacation days. Taking a mid-range commercial flight would probably mean they could attend meetings or visit factories in just one city, because of check-in lines and airline delays.
A small private jet would cost $1,800 an hour, but it would allow them to visit sites in three different cities. Ten hours of the jet, at $18,000, is a little more than half of the two days’ pay they’d use up taking three days instead of one to get to those cities. Moreover, time is the most perishable asset of all, and now they could spend those days doing something else.
www.jet-it-together.com
