I will be graduating this year from grad school and i don't have experience although i hold 4GPA. Will inexperience really affect my career after i graduate?

Unfortunately it might, but you can overcome this - after all everyone has to have that first job. I remember complaining about this when I graduated and thought that you should graduate with 2 years of experience!
Many companies, in my opinion, want to see work experience in part to show that you can understand workplace dynamics, and that you have a good work ethic. Since you are in grad school it is likely you can show your understanding of this by talking about group projects, and the issues and challenges you faced and how you worked through them.

Also, if you have good skills in any common "work" software (think excel, word, powerpoint type of apps) mention it, show that you have an understanding of these tools already so that they won't have to start from the ground up. Even better if you can show skills on other softwar they might use. Do your homework on the companies you apply to so that you can tell them how your skills will benefit them in the job you are applying for (well, that really applies no matter what level of experience you have).

Hope this helps!

A lack of experience can affect you; however, you have lot of compensating factors with such an excellent GPA. Keep trying to find an internship even if it means offering to volunteer your services for free. As if you can get experience plus that great GPA you will be on your way to getting your feet in the door.

As some others have stated, follow up is very important and showing your interest and enthusiasm as sometimes lot of candidates are in the same boat as you and this can help you to stand out little bit.

If you have the money you could look into going back and getting masters as well which would give you an edge on lot of candidates with just the bachelors degree as well. Good luck!

Hi,
I would say it depends on the hiring employer, and many other factors. Some ways to overcome those barriers and shine at your interview are to research recent obstacles the company faced and have in hand creative alternatives to solve them. This approach will demonstrate your diligence, your commitment and your innovative side.

It might. It's always good to have at least one internship. However, don't let this stop you from applying!

I do not think a lack of prior work experience should hold you back from getting an internship or entry level job after you finish your graduate school program. There are many entry level jobs that do not require past work experience and are looking for smart, enthusiastic candidates right out of school. I got my internship at PwC without any prior business/accounting experience and have been at the firm for 15 years now. Best of luck to you!