Another Hotline Miami 2 thing:
So after watching some videos, if you don't take an obscene amount of time (say 35+ mins on a level) then you'll still get a "decent" time bonus. Its all about the combos, you can spend anywhere from 15 to 20 mins on a level and still get an 'S' rank for getting a high combo. The only thing your time really applies for is the Online Leaderboards, other then that the time bonus you get (even if you beat the level in under a minute or 30 seconds) you still won't get the same score amount as you would in Hotline 1.
TL;DCare: time in Hotline Miami 2 only really counts towards leaderboards. You wont get the same score bonus you would in Hotline 1 for beating a level in under a minute. The most I've gotten from a time bonus (I beat the level in 44 seconds) was 3/4000 points, and that ain't a lot.