T&M stands for time and materials, a billing model where contractors charge for labor hours plus material costs. It started in construction and engineering but is now common in consulting and implementation work, like when a HubSpot implementer bills for configuration hours and passes through license costs.
I want you to be aware of an acronym used in some industries. Instead of hourly, they might say, quote me T&M. They mean time and materials. T&M likely started in construction, engineering, and government contracts where contractors billed for their hours plus any materials or third-party costs. In consulting, it's the same idea. Think of a client hiring a sales force or HubSpot implementer. The implementer bills for the hours they configure the system and then pass through whatever add-ons or licenses the client ends up needing.
