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There are many benefits to timing your practice, including:
If you just received an analyst? associate? offer from a top 3 consulting company (McK, BCG or Bain) then go ahead and take that for starters! Obviously they were more focused on your graduate GPA. Did you go to a Grande Ecole equivalent - H/S/W know the difference between attending a top European school and a standard one - they also know that the grade conversion for EU schools is not as important as class rank. I'm not sure which country you are from, but for example in France, nobody graduates with a 20/20 average (which might be mistaken as the equivalent of a 4.0....something US students do and can graduate with).
If your aim is H/S/W I would take the consulting job and then think of other things you can do to improve your profile such as volunteer work, doing a small start-up on the side....whatever....depends on your situation & motivation. If you would like to discuss more offline let me know.