SET STATISTICS TIME ON|OFF v7.0
There are two methods to gauge how much time it takes to complete a 
particular query. The easiest is to wrap each statement in the 
GETDATE() function.

SELECT GETDATE() 
SELECT * FROM authors 
SELECT GETDATE() 
SELECT * FROM titleauthor  
SELECT GETDATE()

This would obviously print out the begin- and end-time for each SQL 
statement if they were sent as a batch.

The alternative technique is just as simple but provides a bit more 
information about the query itself. By using SET STATISTICS TIME ON, 
you obtain information about CPU time and elapsed time for both parse 
and execution of the query.

SET STATISTICS TIME ON 
SELECT * FROM authors 
SELECT * FROM titleauthor 

The above query would return results similar to the following:

SQL Server parse and compile time: 

  CPU time = 0 ms, elapsed time = 243 ms. <-parse and compile

SQL Server parse and compile time: 

  CPU time = 0 ms, elapsed time = 10 ms. <-execution 
<data>

SQL Server parse and compile time: 

  CPU time = 10 ms, elapsed time = 32 ms.

SQL Server parse and compile time: 

  CPU time = 10 ms, elapsed time = 32 ms. 
<data>

The first reading is the CPU and elapsed time to parse and compile the 
query. The second reading is the CPU and elapsed time to execute the 
query. Note that SET STATISTICS TIME does not take into account time 
spent waiting for locks or resources. Thus, the times may differ from 
that of the GETDATE() function if there is any kind of resource 
contention.

Using the GETDATE() method may be all you need to gauge your query 
time(s), but if you are interested in compile and optimize time(s), you 
will need to use SET STATISTICS TIME ON|OFF.

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