It really depends on what area of focus the students have. It’s important that it’s clear what they are focused on and are looking for job wise. Quality over quantity! They should only add things they can talk about with confidence.
If they’re interested in film/animation having a short film or a finished scene or environment to show is expected. This can be presented as a group project or an individual project. Students should identify clearly what exactly their part was and what recourses they pulled elsewhere. Providing a breakdown is important.
Showing the process of getting to the finished result is often appreciated. They can also highlight parts that deserve more attention like if a model has a lot of detail, it can be shown separately.
A lot of students create their own websites now-a-days but they can also post their portfolio on ARTSTATION which a lot of recruiters use.