Entry GPA?

3.5 is still generally the cutoff but with this economy it has moved higher simply because of increased competition. I am guessing when/if everything gets settled 3.5 will once again be the cutoff.

If kids still want to do it.

While 3.5ish is the cutoff to be looked at, unless you have some incredibly stellar work experience or connection, I would want to have at least a 3.8 in order to really be competitive.

Thats not really true. A 3.5 with the right extracurriculars from a target school, good cover letter writing skills and a good personality is sufficient to make it to interview and past 2nd round.

For each school its different, but outside of grades its important to find out which organizations have the most representation at the places where you're looking at, because recruiters often were in those organizations themselves or look highly upon them.

I remember the last set of recruiters for Lehman were all from a particular fraternity and guess what? all the guys from that house, 3.5 or not, got interviews.

So although grades are obviously the most important, eating clubs/sports/senior societies/sororities/school papers, etc. are all important as well