Eligibility criteria for a job in MNC (Multi National Company)? I have scored only 5.4 CGPA in graduation. What is best for me? Job or studies? Can I get job in core field as I have less percentage in graduation?

I have completed my B.Tech with 5.4 CGPA in ECE

I know I am not eligible for any job in my core field nor am I eligible for any MNC job.

I'm neither eligible for any M.Tech course even though I am going to take GATE this year(2014).

What can I do ?

I am not that interested in studies because I prefer some real world experience but at the same time I'd like to study more in my area of specialization to understand the subject in more detail. As you can see the problem lies with my degree.

I have 82 % in 10th and 81% in 12th but they are of no use as I have a second class B.Tech ECE degree.

All the companies want 60% throughout your career. Almost all institutes worth joining want at a First Class degree to be considered eligible for admission to M.Tech or any other higher course. I know I have an option for MBA as most institutes have 50% as eligibility but MBA is a career breaking decision for me. MBA at this stage would not help me as I have literally zero work experience. Doing some higher studies before working would have been a good move.

So, what do you suggest ?

Job or Studies ?

Specifically for jobs, what job can I get ? This will decide my post graduation specialization. I don't think I can get job in my core field. But what if I go for PG in my area and then apply ? Will I improve my chances of getting an acceptable job in my core field ? Or will I get stuck with the eligibility criteria again because companies will still ask for a 60% THROUGHOUT ?

Studies seem another good option but I have a simple question. What institute can I apply for ? I know IIT or NIT is out of the question but are there any other good institutes besides them ? Can you list a few ? Do you know anyone who had a problem like this and got over this by doing well in M.Tech ?

Please, be honest.
Thank You.

Rahul