Worked example
Take a £120k base. Employer National Insurance is broadly 13.8% on earnings above the secondary threshold (~£16.6k on this band in 2025/26 terms; verify with your payroll). Pension auto-enrolment employer contribution is often 3–5% of qualifying earnings (£3.6–6k on a £120k base depending on scheme rules). Specialist CMO search fees commonly land around £24–36k (20–30% of first-year cash compensation). Add three to six months of ramp where pipeline impact is still building. That first year is rarely "just" £120k.