Speaking from a big company point of view, it has a lot to do with the individual candidate, obviously. Someone could be a freshman, but if they are constantly working on projects and have a decent portfolio (doesn't necessary apply to just programming) to review, it is much easier to bring them in.

Personally, when looking at junior hires, personal projects can have a lot more weight than minor job experience. The vast majority of candidates with very little job experience also do not have a lot, if any, personal projects. Anyone who has built anything stands out.