A median advertised cyber security salary in the UK is now £58,050. In London, the mean is £70,200. And one security analyst doesn't give you a 24/7 SOC.
That is why comparing the cost of outsourced cyber security services with an employee's salary gives you the wrong answer.
An effective security operations capability needs people, technology, threat intelligence, processes and sufficient coverage to investigate an incident when it happens. Building that capability internally means carrying those costs yourself. Outsourcing transfers some of them to a specialist provider.
Neither model is automatically cheaper or better.
The useful question is: what does it cost to achieve the detection and response capability your organisation actually needs?