For an entry level position at the national laboratories (Sandia, Los Alamos, Livermore), there is a stated minimun GPA requirement of 3.5. It may become less important for non entry level jobs. The labs like to pick-and-choose contractors for direct employment that have been working for them for a while and have proven themselves. Since the labs generally have great benefits that cost them lots of money, they like to be sure about people they hire. I guess the only way they feel they can do that with fresh out of school people is with GPA. (Of course this is probably hit and miss).
I do not fully agree with people who say that GPA doesn't matter at all. I agree that a 4.0 GPA doesn't guarantee that an employee will be a success in the real world. However, obtaining and maintaining a good GPA throughout an engineering curriculm is difficult and takes a lot of hard work. Thus it cannot simply be discounted. Otherwise, all classes would be based on a "pass" or "fail" scheme.
I was the type that finished with a good GPA but had to but my ass to do it. Other types include those who busted their ass and didn't get that great of a GPA, those who screwed off and didn't get that great of a GPA, and those who screwed off and got a good GPA (probably few and far between).
After being in the laboratory R & D world for about 6.5 years now, my hiring criteria is roughly based on the following requirements, in order. (I am not a manager, and thus do not get the final say. Several engineers usually interview candidates, however, and give their recommendations to the hiring manager).
1. Personality- Does this person come of as being a "self centered", "all about me" type that nobody will want to
work with regardless of how smart they are? Or will they be an easy to get along with, team player. Are they
willing to take advice from people who are technically "below" them education wise?
2. Work ethic- Has this person payed their dues and earned their way into this position or has "daddy" managed to
pull strings for them every step of the way (We all know of these!)? This can be hard to determine from an
interview. Questions about non-work related past activities can assist here.
3. Team work- Is this individual willing to help out regardless of the task that needs to be done? Are they going to
piss and moan about tasks that they think are below them?
4. GPA, past jobs, etc.
Of course life isn't always fair. Thus, if you do have a lower GPA, it may be a little harder to get in somewhere. But in the end, your work will speak for itself. And if you are asked for your GPA by somebody interviewing you, by all means tell them what it was with an explanation if necessary. Don't get defensive and try to throw it back at them as not being important. If it wasn't important to them they wouldn't have asked in the first place. And by all means, DO NOT walk out of the interview if you are asked for your GPA, it happens to be low, and you get mad at them for asking. Unless of course you have 10 other interviews lined up and are sure none of them are going to ask for your GPA either.
My .02