The single biggest screening tool used in Wall Street recruiting is the legendary GPA. Get yourself a 3.8 at a target school, a decent internship or two, and you're all but guaranteed the interview.
But is the candidate who pulled A's in Marketing and Greek Mythology really going to be a better banker than the kid who got B's in these classes (but outperformed in Finance coursework) because he didn't give a sh*t?
If you asked me, I'd prefer to read a 150 word description about the candidate rather than rely on their GPA (past a certain threshold) in making an assessment on who I want to interview. Correct me if I'm wrong, but I've almost noticed a "sweet spot" in GPA where the most successful candidates come from (typically somewhere from 3.3-3.7) and people below - or even above - that level are typically a toss-up.
That's not to say a higher GPA is bad, but, more often than not, grade point average is not the best indicator of success due to grade-padding, rigor of coursework, and motivation of the student.
I'm just an ignorant kid who had a sub-par GPA, so I'm no authority. But... thoughts?