Case study · Exchange technology

Three QA hires under a salary ceiling the market would not meet.

Growth-stage European equities exchange and MTF. London.

  • Senior QA Analyst x 3
  • Trading & Exchange Technology
  • Engineering
81
Screened
13
Shortlisted
8
Interviews
3
Offers
3
Accepted

The situation

The exchange was scaling its engineering team and needed QA capacity to keep pace with release velocity, against live delivery deadlines on a regulated trading venue.

The salary was fixed below the London market rate for QA engineers carrying both real automation depth and capital markets domain experience. That exact combination, at that number, did not exist in the open market in any volume worth waiting for.

The obvious search, domain-expert testers who already knew exchange infrastructure, would have run for months and delivered nothing inside budget.

The challenge

01

Salary ceiling

A fixed budget sitting below market rate for the profile as briefed, ruling out most candidates with both automation and exchange experience.

02

A mislabelled market

The market was full of manual testers carrying automation job titles. Most of the candidates reviewed were rejected for lacking the primary skillset.

03

Domain against engineering

Genuine exchange-infrastructure testers were out of budget. Holding out for domain expertise would have stalled the search indefinitely.

04

Release pressure

Three roles open at once against active deadlines on a regulated venue. The hires had to be right, and they had to be quick.

The approach

  1. 01

    Discovery and recalibration

    • Took the brief and audited the live market against the budget.
    • Recommended a recalibration: hire automation engineers who learn the domain, not domain experts who happen to test.
    • Reset the non-negotiables to automation depth plus SQL and Unix, and made a cash-equities background preferred rather than gated.
    • Agreed the salary would be raised with candidates upfront, never buried late.
  2. 02

    Market mapping and sourcing

    • Built a target list across exchanges, MTFs, trading technology vendors and surveillance firms.
    • Filtered tightly for confirmed automation and SQL or Unix experience.
    • Screened 81 candidates against a weighted scorecard.
  3. 03

    Shortlisting and interviewing

    • Presented 13 calibrated CVs.
    • Scored each one on automation depth, regulated-environment experience and ownership of the delivery lifecycle.
    • Eight candidates progressed to interview.
  4. 04

    Offers, closing and onboarding

    • Managed three offers and the salary conversation directly.
    • All three accepted.
    • Stayed with all three through onboarding and the handover.

The result

  • All three QA roles filled.
  • Three offers made, three accepted.
  • QA capability built without breaching the salary ceiling.
  • Delivered by reframing the profile, not by waiting for the market to change.

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