Unfair Dismissal
This depends on the type of employment law claim you bring.
In unfair dismissal (which can include constructive dismissal) the maximum compensation payable by the Tribunal is in excess of £60,000. There is NO limit to the maximum amount of compensation if the claim is for discrimination.
For wrongful dismissal the damages are what you would have been entitled to under your employment contract, if you had not been wrongfully dismissed. A wrongful dismissal claim is often why you hear of football managers who are sacked being ‘paid out their contract'.
Contrary to popular belief, very little is awarded for ‘hurt feelings' - typical awards are from a few hundred pounds to a few thousand pounds.
In all cases, there is what is known as a ‘duty to mitigate your loss'. This simply means you are expected to try to find another job. If it takes you 2-3 months to find another job, then you would be entitled to compensation equivalent to the amount you would have been paid under your contract for that time.
In terms of salary and other benefits all this is relatively straightforward to calculate. However, if you are also entitled to a bonus it can become much more complex and specialized employment law advice would probably be beneficial.