In one embodiment, a method for selecting transistor threshold voltages on an integrated circuit may include assigning a first threshold voltage to selected groups of transistors such as cell instances, for example, and determining which of the selected groups of transistors to assign a second threshold voltage, that is lower than the first threshold voltage, by iteratively performing a cost/benefit analysis. The method may further include determining which of the selected groups of transistors having a third threshold voltage to assign the first threshold voltage by iteratively performing a cost/benefit analysis. The cost/benefit analysis may include calculating a cost/benefit ratio for each group of the selected groups of transistors. In addition, the cost/benefit analysis may include calculating an upcone benefit and a downcone benefit for groups of transistors coupled to one or more inputs and outputs, respectively.