what do companies look for when they're hiring?

Depends on the company. But universally, they all look for High College Degrees (MA, PhD.) from a noted university. Plus acquired experience in the specific field, be it on a college or professional level. Aim High... and go for it. Best, AC

My humble experience is that companies look for well-rounded candidates ready to face today’s challenges. It is not about how much you know, but rather how good you’re to find information. Social skills are essential as you will very likely be interacting with many people from different ages, backgrounds and even nationalities; also you need to be able to adapt to change and uncertainty, make decisions in ambiguous situations and the most important, have the right attitude even in difficult situations.

If you’re still studying I would advise you to get involved in extracurricular activities such as community service and social work as a way to stay engaged and show interest and initiative. When you are about to graduate you may be required to do an internship or professional practices, take advantage of that experience to get exposure, show who you are and network, I believe internship is the single most important aspect of your job search. Good Luck !!!

In the film industry they look at your experience. When your first staring out working on small projects that will help build your porfolio. One really build on the other. I see each job I do as a step toward another bigger job in the future.
I hope this helps
Gabrielle