Career Help - Career advice in ibanking?

Greetings everyone, this is my first post here and I'm glad I stumbled across this site. I'm seeking help as to career advice in iBanking. Im currently a student at the University of Toronto with a Specialist in Commerce and Finance going into my third year. My marks aren't that great. My CGPA is just below a 3.0. I sorta goofed off the first two years and I know I can raise it in the remaining two, although I'm guessing the big banks look at the cumulative score. Is there a chance they only look at the final year of marks?

Anyways in my opinion my experience so far is pretty good. I'm the director of finance for our student union managing a budget of $200,000. I also work at Scotiabank in Customer Service.

My goal is to get into a major iBank in Toronto as an M&A analyst. (Citibank and Scotia Capital are the biggest in Toronto I belive?)

If money isn't an issue, should I get an MBA? a CFA? If I had the marks for lawschool (which for a good one I currentl do not) would that be a good option?

Would my odds increase if I worked at a smaller iBank before applying to a big one? I tend to think that they would prefer students fresh out of business school.

I'm thinking of working at Swifttrade this summer for some experience but i've read prop trading is looked down upon by employers?

I might have a connection at CitiFinancial for a summer job although they aren't really affiliated with Citibank; they deal with home equity loans and credit.

I have family in law and accounting (for possible other summer jobs) who are well connected , but they can never seem to find me work.

With these kind of marks do I have any chance at getting into a big firm, what suggestions do you guys have as to the best way to get in?