I stumbled on this article earlier and thought I'd link you all, since it's something we frequently discuss. Design a winning UX portfolio
Over the past four years, I've spoken with several hundred hiring managers and recruiters from across the globe. What they see from candidates most often is portfolios containing galleries of beautiful user interfaces or collections of commonplace design documents such as site maps, wireframes and mockups.
A decade ago this would have been fine. Today, with increased competition (over 100 applicants on average per role) and much ambiguity over what pertains to UX design, that approach is not useful. What you need is a portfolio full of design-based stories.