The brain has an incredible role in building a mental perception of the time so yes, the time is different each by each. Time is even different for a single person, depending on the life stage that he's in. Time was so different for me when I was only 12 years old. It was passing so slowly and I only wanted to pass faster and become an adult so I can do a lot of things that I was not able to do then. I am 25 now, so only 13 years since time was like this for me and now I feel like my time is slipping out of my life and I am getting older to fast.
This subject could be discussed for ours and still not getting a steady conclusion as there are a lot of things to be taken in consideration so I only want to say: Great article and great subject! Time is part of anyone's life .