diff --git a/core/dbt/task/run.py b/core/dbt/task/run.py
index 93a8e261b50..ade89c6ab05 100644
--- a/core/dbt/task/run.py
+++ b/core/dbt/task/run.py
@@ -1,6 +1,7 @@
 import functools
 import os
 import threading
+import time
 from copy import deepcopy
 from datetime import datetime
 from typing import AbstractSet, Any, Dict, Iterable, List, Optional, Set, Tuple, Type
@@ -284,7 +285,7 @@ def after_execute(self, result) -> None:
         track_model_run(self.node_index, self.num_nodes, result)
         self.print_result_line(result)
 
-    def _build_run_model_result(self, model, context):
+    def _build_run_model_result(self, model, context, elapsed_time: float = 0.0):
         result = context["load_result"]("main")
         if not result:
             raise DbtRuntimeError("main is not being called during running model")
@@ -296,7 +297,7 @@ def _build_run_model_result(self, model, context):
             status=RunStatus.Success,
             timing=[],
             thread_id=threading.current_thread().name,
-            execution_time=0,
+            execution_time=elapsed_time,
             message=str(result.response),
             adapter_response=adapter_response,
             failures=result.get("failures"),
@@ -340,7 +341,8 @@ def _build_run_microbatch_model_result(
             status=status,
             timing=[],
             thread_id=threading.current_thread().name,
-            # TODO -- why isn't this getting propagated to logs?
+            # The execution_time here doesn't get propagated to logs because
+            # `safe_run_hooks` handles the elapsed time at the node level
             execution_time=0,
             message=msg,
             adapter_response={},
@@ -349,19 +351,28 @@ def _build_run_microbatch_model_result(
         )
 
     def _build_succesful_run_batch_result(
-        self, model: ModelNode, context: Dict[str, Any], batch: BatchType
+        self,
+        model: ModelNode,
+        context: Dict[str, Any],
+        batch: BatchType,
+        elapsed_time: float = 0.0,
     ) -> RunResult:
-        run_result = self._build_run_model_result(model, context)
+        run_result = self._build_run_model_result(model, context, elapsed_time)
         run_result.batch_results = BatchResults(successful=[batch])
         return run_result
 
-    def _build_failed_run_batch_result(self, model: ModelNode, batch: BatchType) -> RunResult:
+    def _build_failed_run_batch_result(
+        self,
+        model: ModelNode,
+        batch: BatchType,
+        elapsed_time: float = 0.0,
+    ) -> RunResult:
         return RunResult(
             node=model,
             status=RunStatus.Error,
             timing=[],
             thread_id=threading.current_thread().name,
-            execution_time=0,
+            execution_time=elapsed_time,
             message="ERROR",
             adapter_response={},
             failures=1,
@@ -504,6 +515,7 @@ def _execute_microbatch_materialization(
             self.print_batch_start_line(batch[0], batch_idx + 1, len(batches))
 
             exception = None
+            start_time = time.perf_counter()
             try:
                 # Set start/end in context prior to re-compiling
                 model.config["__dbt_internal_microbatch_event_time_start"] = batch[0]
@@ -530,13 +542,17 @@ def _execute_microbatch_materialization(
                     self.adapter.cache_added(relation.incorporate(dbt_created=True))
 
                 # Build result of executed batch
-                batch_run_result = self._build_succesful_run_batch_result(model, context, batch)
+                batch_run_result = self._build_succesful_run_batch_result(
+                    model, context, batch, time.perf_counter() - start_time
+                )
                 # Update context vars for future batches
                 context["is_incremental"] = lambda: True
                 context["should_full_refresh"] = lambda: False
             except Exception as e:
                 exception = e
-                batch_run_result = self._build_failed_run_batch_result(model, batch)
+                batch_run_result = self._build_failed_run_batch_result(
+                    model, batch, time.perf_counter() - start_time
+                )
 
             self.print_batch_result_line(
                 batch_run_result, batch[0], batch_idx + 1, len(batches), exception