I can tell you first-hand, that's common. I control the hiring but not the ultimate say in the budget. Up to $X I can approve the hire, up to $YY I need to seek

I can tell you first-hand, that's common. I control the hiring but not the ultimate say in the budget. Up to $X I can approve the hire, up to $YY I need to seek VP approval, up to $ZZZ I need SVP approval, up to $LOTS I need CEO approval. But all of those are feasible, given the right candidate. There is no hard ceiling on the budget, it's all about who I can convince.