Video conference meetings, which became frequent during the COVID‐19 pandemic, might result in exhaustion (so‐called “Zoom fatigue”). However, only little is known about “Zoom fatigue,” the objective characteristics shaping it, and the subjective experiences eliciting this phenomenon. Gaining this knowledge is critical for understanding work life during the pandemic. Study 1, a within‐person quantitative investigation, tested whether video conferences are exhausting and if objective characteristics (i.e. meeting size, meeting duration, and the presence of the supervisor) moderate “Zoom fatigue”. Employees from Germany and Israel (N = 81) participated in a 2‐week study, with meetings nested within persons (n = 988). Results showed that video conferences are exhausting—more than meetings held through other media. However, objective characteristics did not moderate this relationship. In Study 2, qualitative data from Germany and Israel (N = 53) revealed employees' subjective experiences in video conferences that may lead to “Zoom fatigue”. These include, for example, experiences of loss and comparison with the “good old times” before the pandemic. Employees suggested ways to mitigate “Zoom fatigue,” particularly, better management of meetings by leaders. Our results provide empirical support for “Zoom fatigue” and suggest which subjective experiences elicit this phenomenon, opening directions for research and practice.