Our rubric is for deciding who to interview. We definitely have new grads who have resumes with meaningful programming projects who get into the interview pool. We have hired new grads over experienced candidates on the strength of the interview.

During an interview, we usually have a whiteboard abstract design and pseudo-code guided exercise. I also very much like to ask candidates to walk us through one of their projects and experience with that as well. Occasionally, someone who doesn't do very well with other parts of the interview will really open up on a school or personal project and show unexpected insight and ability.

I wish we could do a blinded work-sample test, but there are HR policies that prevent us from using one.