In this paper a new experimental technique for measuring the switching dynamics and extracting the energy consumption of Spin Transfer Torque MRAM (STT-MRAM) device is presented. This technique is performed by a real-time current reading while a pulsed bias is applied. The switching from a high resistive state, anti-parallel (AP) alignment, to a low resistive state, parallel (P) alignment, is investigated as well as the impact of the cell diameter on the switching parameters. We demonstrate that preswitching and switching times and energies have a log-linear relationship with the applied voltage. Increasing the applied voltage leads to a higher spin torque on the free layer in a shorter time. This decreases the time needed to change the magnetization orientation of this layer, thus the time required before the switching occurs. We have also shown that for a given applied voltage, the smaller the cell the longer the time before switching. For low applied voltages, the preswitching time increases exponentially dominating the whole reversal time. The longer switching times can be explained by a lower Joule heating not sufficient to induce the thermally activated reversal process. This phenomenon is accentuated for smaller cells, where the heating is more significant and the time before switching is shorter than for larger cells.