This is for the host only - it factors in the setup costs.Unfortunately if you do Pac Std though you are still forced to hear about Lester Crest's picnic for the 438th time. Note I've included their time spent watching cutscenes - if you skip them there may be some significant savings. Casual players might find it tricky to do it that quickly, but good players can perhaps do some setups a bit quicker as they maybe won't be so worried about the odd accidental death. The point here is users should enter their own times.
Default times entered have been approximated using GTA Series Videos Criminal Mastermind runs.The 'Summary' sheet ranks the heists in terms of expected income per hour. Only edit the cells in green, there is one sheet for each heist in the game. The 'Instructions' sheet tells you how to use it but it should be pretty obvious.The link to the Excel based calculator is below. If you're interested in earning money, what's important is how fast you earn.
Obviously Doomsday Act III pays the most in total - but you have to do 6 preps and 5 setups, so it's also likely to take you the longest. This enables the user to put in their expected completion time for each component and all other important variables - such as difficulty, what other bonuses such as the elite challenge might be achieved etc. I put together this spreadsheet to calculate the payout per hour for both the new and old heists.