In a transceiver, the accuracy of a packet time stamp can be improved by compensating for errors introduced by processing of the packet. A received packet can be received via multiple lanes. A packet time stamp can be measured using a start of frame delimiter (SFD). A last arriving lane can be used to provide a recovered clock signal. A phase offset between the recovered clock signal and the system clock of the transceiver can be used to adjust the time stamp. A position of the SFD within a data block can be used to adjust the time stamp. A position of the data block within a combined group of data blocks can be used to adjust the time stamp. Also, a serializer-deserializer delay associated with the last arriving lane can be used to adjust the time stamp.