Having a GPA above 3.0 is crucial.
However, I have always found that the activities you belong to in college, things you do with your academics (important papers, etc.) are more important than GPA.
In other words, "great you got a 3.2. So did everyone I interviewed today. What did you do with your time there that seperates you."
Employers often look not only for "chess club" on the resume but "president of chess club." In other words, that you put time and effort into making an organization better.
As long as you aren't going to law school or don't want to be a doctor, etc., GPA should be a concern, but don't be upset if it slips. Look to see how you can distinguish yourself from others.
Oh yeah, and "boobies board moderator" should not be on a resume.
Sorry to go so long. My girlfriend is in HR and so I hear alot of stuff about this subject.
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