Personally I expect a recent graduate to have no real-world programming experience. Some hold a programming-related job while in school, but that is about the best you can expect.
I look for passion about making games. Something that tells me they care about game mechanics. If they describe how they run their own D&D group and build up the worlds, if they describe that they participated in GameJam or similar events, if they describe how they built their own side games, that shows the right kind of interest. If they tell you about their favorite level of a blockbuster game, or tell you they enjoy playing RPGs and hope that is what you are making, that is the wrong kind of interest.
Note that it won't really help you much on the career ladder, you'll still be hired as an entry level position.
It will help you get to and through the interview favorably. That's good if you're looking for a job.