Answered by Jenna, Hiring Expert at Emerson, on Monday, February 5, 2018
Hello and thank your for your question!
Similar to the what the other experts have said, the first thing recruiters are going to look for is prior co-op or internship experience. In the absence of that, being involved on campus is a close second, especially if the groups are related to your major and field of study. It shows initiative, organization, time management, and can sometimes provide field experience as well (technical clubs such as First Robotics, Engineers Without Borders, etc.).
The factors you listed actually tend to make up a "Package Deal" of sorts. If a student is a little lacking in prior experience, a good GPA and involvement is fantastic to see as well.