I'll just come out and say it, I love looking at bad portfolios.  They're like a car wreck that you can't stop gawking at.  Passing by the wreckage, you also have a sense of pity and concern.  Deflating one's self esteem isn't my bag, so I try to shift the criticism to more "how to improve" than "what you did wrong".

Within the first page, I already know if it will be a good one or not (it isn't rocket science), and I know that I'm going to have to crush that individual's hope and say "no".  What kills me though, is that I'm not going to be the only rejection they'll receive that day.

Within these batches of mockups and doodles, the best is bad Photoshop art.  This stuff is like crack for me.  There is something to be said about the dirty looking bevel that has been applied to a dog (yes, a bevel on a real dog), or the use of an outer glow on an elderly man in a grocery store.

But lets give these guys and gals a break, they at least HAVE a portfolio to begin with.  Yes, on numerous occasions, after asking to see their work, I'm told they don't have anything to show me.  I'm guessing some out there think if you put on a resume that you have experience with Photoshop, an employer will rush over and say "Wait, it says here you know Photoshop, is this true?!  Where have you been!?!?  Right this way, sir, right this way."

I always try to give something back, who knows where this person might be in a year from now with a little guidance.  My one number tip is to get rid of all the extraneous crap.

Look, filling up your portfolio with a lot of work does nothing more than dilute your better material.  In fact, I tend to forget the good stuff and focus on the old man with that outer glow effect (See?  I'm still talking about it).

Lets outline a few of the other fine points, shall we?

1. Start with a bang and end with a bang.
   Many designers stick their strongest material in the front.  Spread it out.  What good is it to kick everything off with an amazing piece when at the very end, you close with a fried chicken ad.
2. Your portfolio should be relevant to the agency
   If your are speaking to the creative director of an agency who churns out work for film and television, a fried chicken ad with a two for one coupon isn't going to go far (unless it is one helluva fried chicken ad).  Don't be afraid of pulling some pieces out if it is of a genre that doesn't fit your would be employer's needs.
3. Remove blank pages
   If there are extra sheets in the back, please remove them.  Too many portfolios end with the designer telling me "Oh, that's it.  That's all"  It comes off as careless.
4. Have your portfolio on disc
   This is very important.  This industry moves quick, many times there are drop ins that I do not have time to even acknowledge.  It isn't because I'm rude, but deadlines dominate everything.  Have a disc handy containing a PDF of your work, with your name, number and email address on the actual disc face.  Drop it off, smile, and leave.
5. Smaller and efficient presentations are best
   While I realize there are some professions that merit the larger portfolio size, I find that the ones that can sit on my lap work best.  A large portfolio is awkward to maneuver with, and in an agency or studio, there isn't always a lot of room to handle a huge suitcase of your work.
6. No gimmicks
   Well, I'm not going to say this should be completely ruled out, but more or less, most gimmicks tend to fall flat and do nothing more than create clutter or waste time.

So there you go, and if I was to summarize all the points made, being neat, tidy and organized is your best bet any day.