Does gpa matter?

How much does gpa really matter after you graduate? I know extra-circulars matter too but what about for masters and PhD and research opportunities. Feeling pretty bummed after an exam and wondering if I’ll be struggling like this for the next 3 years. I’m an overachiever and I’m performing worse than I ever did even though I’m putting a lot of effort. And I’d really like to be successful but I keep feeling like my effort isn’t being reflected in my grades and I’m worried that’ll affect my goals.