Good enough for Goldman Sachs but not good enough for a worser job?

Has anyone or know anyone that have this issue?

You worked for the best banks in the world (Goldman Sachs/Morgan Stanley) and you want to switch jobs. You send out like 500 job applications that you qualify for and some of them reject you (Companies with less prestige). Why do these companies that reject you feel that your not good enough to work for them even though you were already accepted and worked at jobs far above them?

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