Del

longput

You won't get Big 6 IB and above level roles but can always aim lower and try to lateral. Not just small boutique IBs but also other CM roles.

Gosh, I hate posts like these - yes, it will be infinitely harder with such a low GPA to land - but if you build up 3-4 great connections at each bank, know techs lights out (I'm talking not a single wrong -> it's not that hard), have some pretty great market knowledge and maybe some deal experience you can speak to - why not? If you make it to a 1R, which in Canada I'd say is one of the hardest if not the hardest part of the process, and you come off as someone extremely smart, great story/behavs - then yes you have a chance 

Saying "you won't get big 6" is such a big generalization and is just unhelpful. While I haven't seem someone did it with a sub 3, I've seen 4 non-target friends secure SA positions with low 3 GPA's.

Come off as smart, extremely polished, curious, have a great story and absolutely focus on networking

I hate posts like these too - yes it's doable but as you've said it's extremely hard and only very few manage. I'm not saying to give up but having gone to a semi target personally, I've seen way too many non-qualified students be arrogant and think they deserve big 6 while having an extremely poor resume. Most are just not good enough, have poor networking abilities, poor knowledge of the industry/role/markets, and the GPA reflects all these poor qualities in general. Yes some are outliers where they have everything else down and just the GPA is poor but more often than not, there's a strong correlation. Best approach for those with poor GPA imo would be to take a moment to be really objective on where on the scale they stand vs peers, and if they're confident in making up on all other factors to go for it but to always recruit for a back up as well (ie big 4 and below even).