time cmd args...
The time command follows the same rules as the shell for converting cmd to the pathname of an executable module.
The load time displayed is just the value for time to load cmd. Any loads performed by cmd are included in the reported real time.
The time command is designed to act on a single command, not a command pipeline. If statistics on a pipeline are needed, the pipeline should be encapsulated into a separate script for timing. For example,
echo 'ls | grep sh' > pipeline; time sh pipeline
In the example above , the load value returned by time is for the loading of sh, not the subsidiary commands of the pipeline.