It stops mattering after about 5 years, being overtaken by where you've worked in the past - although there's a slight ripple effect there, since where you work right after college depends a bit on your GPA. I do wonder how big a difference really GPA makes in the long run, but a higher one is definitely better than a lower one ; )

I suspect it's like a lot of things. That first job ripple effect helps out in the beginning and then the differences between high and low gpa average out over time.

Like kids in headstart or Pre-K programs. They start out ahead of their peers in kindergarten, bit those differences are completely gone by second or third grade.