I often find that these requirements go way beyond what's needed to perform the role effectively and don't have a strong bearing on the role itself. It seems that these days, many management level positions require a detailed list of technical expertise. Where's the focus on organisational and people management? One Development Manager role insisted on 10 years of Java coding and 5 years of managing Java projects. That sounds more like a hands-on Project Manager with coding where necessary. You could show excellence in 9 of the 10 requirements for the role but companies would prefer adequacy in all 10 areas. Methinks it's more about arse-covering and avoiding any fingers of blame being pointed in the hirer's direction.
2. You Don't Have Experience In Our Sector
Well if you can't learn in this industry, you're in the wrong industry. Experience is only a guide to whether you can perform the role. The bottom line is that companies - or the people who make certain hiring decisions - are extremely risk averse today. If you can't show the experience they need, they won't take the risk that you can perform well. Diversity and adaptability are qualities of little interest. I had two companies give me two interviews each and a third give me five (yes 5) interviews only for all of them to state that I didn't have a background in their area. Which they all knew before the first interview. Maybe they're just comparing the pool of candidates with experience in their areas to the qualities of candidates generally to ensure they're not missing out on anything. Or maybe they're just passing time, showing everyone that they're working really hard by interviewing several candidates but holding out for the one that meets their very high standards - "I've exceptionally high expectations for the quality of the successful candidate and I'm working extremely long and hard to locate that person".
3. You're Too Senior For This Role
Even though you're happy to accept a lower level of pay and responsibility, they're not happy to let you accept it. In a different climate, one might be rightly wary of candidates applying for roles that they've outgrown. In this climate however, I think it's perfectly acceptable. They're aren't that many roles that suit an experienced individual and there might not be many in the years to come. I'm sure lots of people would prefer to be doing something rather than nothing. I've had companies tell me halfway through the first interview that they've no doubt I could do the role. Unfortunately, (for me and for them) they choose not to progress as they feel I'll just jump ship if something better comes along. Personally, I don't think that would reflect very well on my character. Or my CV. How would you convince a future employer that you wouldn't so the same thing again?
Oh and this isn't a whine. It's my experience. Tomorrow I'll whine about my most disappointing interview with a major mobile operator.