PhD is for the smartest and most dedicated people, most of whom will pursue a career in academia upon graduation. Why would you want to do a PhD? If you have a 3.2 GPA, you are either not the smartest or not the most dedicated student in your school. Forget about PhD, it's not a requirement if you want to work in the industry and make money eventually..... no offense
I don't agree what the above guy said. GPA is not the only factor to decide admission. Showing your interest and your potential are very important. Of course, lucky is another one. Take me for example, I have very low GPA, whilst I have received 3 PHD offers from US business schools. So nothing is impossible. If you have a dream, there is no harm just for a try.
popofeeling, I am very surprised that you got 3 PhD offers with very low GPA. Would you mind clarify if the 3 are top programs at top schools? Also, do you have substantial work experience when applying?
I am not trying to be mean to LZ, rather feel that a lot of us have become obsessed with PhD degrees. PhD programs are created to educate high potential scholars for a career in academia. But I seriously doubt a lot of us look at PhD that way but simply as "something good to have no matter what". We should think about what a PhD degree can bring to us, what will motivate us in the difficult process of pursing a PhD degree and carefully assess whether we have the intellectual capacity to generate meaningful ideas and results. Many, many and many of us use PhD as a jumping stone to something else, which in my opinion, is a waste of time. If you think you would not be interested in becoming a professor, you should just do an MBA or MFE/MFin, which is more applicable.
Yellowfish, according to your information, I can say that, if your ambition is top-50 b-school in US, there is 80% of probability that you will get disappoited after this admission season. Ph.D candidates for B-school should be very dedicated and smart. Please forgive me to refer your GPA, but the real situation is that GPA is a very strong signal to show your ability if there is anything else equal between you and others. Also, you should use your research and S to show your dedication. Why you are going to pursue a Ph.D in your field. Often the time, people fail to express this well using vivid examples or cases. Do you know why? They have little exposure in their field.