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ryan...
I am only an undergrad engineering student as well, so take what I say with a grain of salt. But most top MBA programs have GPA ranges 10%-90% between 3.2-3.9ish. Meaning with a 3.2 you will be close to the bottom 10% of admitted applicants. They will look at your major and surely will take that into consideration and the undergrad school that you go to. e.g. a 3.2 chemE degree from MIT will not be looked upon too poorly I wouldn't think. On the other hand, you will need strong GMAT scores to make up for your lower GPA. Also, and most importantly, what they are really looking for is success in the workplace. They want to know that you are going to be successful after you get your MBA, that way you add value to their alum network and will hopefully donate money back to the school. If you can prove to them that there is a good chance this will happen, I don't think you'll have a problem with the 3.2... But keep trying to pull that up if you have time still.
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