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<p>Depends on the employer and job. For example, jobs where major is most relevant prioritize major.</p>
<p>GPA might matter more if it is poor. E.g. an employer may not care too much between a 3.0 and a 4.0 GPA, but may be leery of bringing in a graduating senior with a 2.0 GPA.</p>
<p>Employer may put schools into three buckets: (a) schools employer actively recruits at, (b) schools respectable enough that applicants are considered for interviews, (c) schools not considered respectable (often this means primarily on-line schools, non-selective for-profit schools, non-regionally-accredited schools, etc.).</p>