First and foremost, I look for intelligence. The smarter the person the better. Paying a 20% premium for a smarter person often translate into more than a 20% increase in productivity.
Next, I look for pople who are proactive. Not just someone who can do what I tell them, but someone who can say, "you're wrong, I have a better idea;" someone who will have a concern and bring it to my attention long before it becomes a costly problem.
Third I look for people who will work well in teams.
Finally, I look for people who can communicate well, both with other engineers, and, if possible, with non-engineers.
Aftr all that, if I have two equally qualified candidates, then I might consider their specific technical skills. The fact is, the mechanics of software development isn't that hard. I laugh when I see a company say "we need someone with 5 years of WebSpehere; oh sorry, your 5 years fo WebLogic doesn't count." If you know one, and have any brains, you can easily learn the other. Likewise with
Java and .NET, or with J2SE and web development, or visa versa. (The one exception to this rule is that it is helful to have 1-2 people on a team with strong depth in the technology, people who know the subtle undocumented, tricks with a particular technology).
I place no value on SCJP. Again, anyone can learn the mechancs of the language, which is all these tests can really measure. The questions I use to distinguish the candidates when it comes to technical ability are questions like "how does garbage collecton work," "how would you architect the following program..." "why are requirements difficult," etc.
Experience is about the only thing that counts. Far more than degrees or certs.
I really don't care what company you worked for, I do care about what you did there, and I will grill you on it.
I really only focs on academics if the candidate is less than 2 years out. I will say the school can be used as a rough filter. Someone who went to a ivy school, for example, is usually garanteed to have a certain base intelligence.
--Mark