How important is GPA for Full-Time

So the requirement for the BB I'll be a summer analyst for next summer is 3.5.

After a really shit semester abroad, I was wondering how much do BBs care of your GPA for full time (assuming I get a return offer after next summer)?

Assuming I don't get an offer back, would a lower GPA (3.2-3.4) screw me over to apply for other firms or would the experience I get this summer have a lot more weight?

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