Perhaps you shouldn't. You may well be sad doing a lower-level job and reporting to someone you view as your inferior. And in the future, when you want to apply for a higher-level job, employers will wonder why you took a step down: Were you a bad employee? Did you have a nervous breakdown? Cancer?
If you do decide to apply when overqualified, in your cover letter and early in job interviews, preempt employers' objections to your being overqualified. Examples:
- Although I've been a manager, I also enjoy being an individual contributor.
- My having been a higher-level employee is a plus--not only will those higher-level skills be of use in this job, I can empathize with the pressures you, as a boss, face.
- If you're concerned that someone with my background might jump to another job, know that I'm not a job hopper--When I accept a position, my plan is to stay for at least two years. Hopefully by then, you'll see that I'm worthy of a promotion.