<p>Modern bureaucratic institutions distribute not only resources, rights, sanctions, and recognition, but also time. This article develops a theory of institutional time inequality to explain how disparities in the duration between claim and resolution become a mechanism of stratification. Drawing on sociological theories of time, bureaucracy, waiting, administrative burden, and capital conversion, I argue that institutional delay is not merely an administrative inconvenience or organizational inefficiency. It is a distributive process through which life chances are shaped. The article introduces the concept of speed capital to describe the capacity to convert existing forms of economic, social, and cultural capital into accelerated institutional outcomes under conditions of differentiated temporal governance. Empirical illustrations from immigration adjudication, pretrial detention, disability benefits administration, housing waitlists, eviction proceedings, and citizenship by investment programs show how institutions allocate waiting unevenly and how advantaged actors secure faster or less damaging pathways through bureaucratic systems. The article contributes to theories of stratification by shifting attention from waiting as experience to waiting as distribution. It shows that access received too late is not equivalent to access received in time, and that inequality is reproduced not only through the unequal distribution of resources, but through the unequal distribution of institutional time itself.</p>