Has anyone ever applied for a certain position and been offered another one instead?

I've had this happen to me twice so far and in both cases it wasn't for the better! ( which sucks! ). Recently i applied for a position and was offered a far lower position with 30% less pay, i was kind of insulted to be honest. This was a Fortune 500 company if that makes a difference. How would you handle this situation?



Note: I'm not in desperate need of a job just looking to further my " career "