Reasons for not being employed by itc ltd.

Dear friends, this is an interesting twist...if u patiently read forward you will understand.

I just qualified CWA Finals in Feb 2013, (both groups-falling short of Rank by 3 marks). I was very happy, seeing that I will get good opportunity now and went with high spirits to the campus placement at Mumbai. All my expectations fell short, no significant PSUs had come and the ones like TCS, Wipro, KPMG and Accenture were only offering job profile of SAP 6, (being from a small town I have no idea how that works?). I was very glad when ITC shortlisted me. I cleared the written test, the GD and got to face the interview. Here I was immediately told, that I was  levels higher than the position being offerred.......

WHY??

I am also a CA Finalist with only 1 group remaining.

The interviewers told me, " ur profile is very good, but will you be willing to work in a position lower than your qualification?"

I was (frankly speaking) quite amazed, the reason behind doing a double professional degree is to get better opportunities, that's the whole point?!

so does that mean, that I am being denied jobs now because I am overqualified? This is cause of a very big disappointment. I am quite sure many of my fellow friends and professionals may have faced such a situation...if u have please tell me. Because being unemployed after such high qualifications is very frustrating....