I've been involved in some interviews now.
Those who themselves had lousy GPAs during college also didn't care about GPA. Those who had good GPAs
did look at GPA.
Of significant interest: Personality. The old thing of "Would I ever like to have a beer with this person?"
Technical skill....it was in there, but the personality thing was more of it. There were a few candidates whom I thought had excellent technical skills, but they lacked the charisma that the selected candidates had.
I'm sure that if I had gone through those channels, they would have labeled me as to bland and unmotivated. Good thing for them that I snagged an internship first, and have done quite well for the company. Yes, I'm a pain in the ass sometimes when I insist on doing things properly, or when I don't want to blindly push ahead with something before thinking about the ramifications for the future, or for other departments.
Management tends to have a personality type that includes being driven and outgoing. They look for that in everyone they hire. What I've seen of engineering and technical sorts is a tendency toward....nerds, you know? Each is beneficial in their own way. The nerds can sit in their quiet spot and solve sophisticated problems, and the ultra-extrovert management types can stay they heck out of their way and do whatever else it is that they do.
Do they like their jobs though? There is nothing wrong with staying put if you're happy with your job. That's where I'm at right now -- don't care about "advancing" and just want to make it to retirement.
I don't like the push toward management, like if you dare say "I don't really want to be in management," you might as well just seppuku yourself right there. It just seems like the hiring sorts (...managers) view management as the apex of human existence, and anyone who doesn't strive for it as their ultimate career goal is unworthy of their time.