Arielle Patrick: A Discussion on Studies and Effort

BT: In your eyes, what is Community through Business?

AP (Arielle Patrick): To me, I think Community through Business emphasizes that when you are operating a business, it's not just through the shareholder audience, for example, it's through all the stakeholder audiences that are either a part of your community or could be impacted down the line. So, I think these days, we are looking at a shift from what I would call shareholder focus to stakeholder focus where it is incumbent on CEOs and leaders to think about the decisions that they are making and what potential collateral damage they could have down the line, not just on their direct employees or their direct customers, but what about the cities where they exist or the communities they serve? So, I hope that as we go forward, more leaders are thinking about the community as a big-picture driving force and strategic imperative on how they operate.

BT: Now, backing up a little bit, you studied classics at Princeton, specifically, Latin and Greek. And also, you talked about an article that you initially intended to go into journalism, but ultimately, you switched and you went to communications at a big bank upon your graduation. What really inspired you to make this decision?

AP (Arielle Patrick): I really believe that education is meant to be for education's sake and that undergrads should not focus too much on what the career journey looks like when they pick a discipline. It's very rare. Even now that when I hire, I'm looking for people that studied communications or advertising, or marketing. Those are skills that you can learn on the job. What I care most about is whether can you write. Can you research? Can you analyze? And, so you'll find that some of the most challenging disciplines academically that flex that muscle is in the humanities, or in some cases, in sciences. So, my decision to study classics was purely because I absolutely loved Latin from the moment I started it in seventh grade and Greek from the moment I started in 10th grade. And, so I could not think of a better way to spend four years at Princeton than to analyze and dig deep into literature history, a narrative that is really foundational to our society today. And, I do use some of those skills every day. As it relates to deciding to be in the corporate world versus a journalist, I really just focused on the headwinds that I was seeing at the time. So, when I was coming up, the financial crisis was happening and the rise of digital media was taking place. Originally, I really wanted to be the editor-in-chief of Newsweek. My dream was to be Mark Whitacre. But, that was not in the cards as The Daily Beast in the Huffington Post became king. And, people were really focused on short snackable pieces of content at the same time the financial crisis was happening. And, so big banks were hiring PR firms to help protect their reputations because ‘Occupy Wall Street’ was going on. And, there was a focus on big bad business sort of pillaging the average man. And, so it was really just about taking a look at what was happening. And those two trends drove me to work at an agency focused on financial services and PR. And then, from there, I wanted to learn more about risk. So, I decided to go into crisis management. And then, from there, I wanted to learn more about corporate strategy. So, I went into M&A and Restructuring. And, so it's all about, to me, a process of learning, but also noticing what's happening around you.

BT: That's really interesting. I'm also really interested in journalism right now. And, I'm also going to pursue a certificate in journalism, but then also consider the corporate world. So, going off of that, what would be one piece of advice you have for somebody who is studying something that's not finance but is considering a career in the corporate world of finance, where there are some technical skills, like a case study?

AP (Arielle Patrick): Honestly, it does not matter what you want to do after. Just rely on your summer internships and do not focus too much or stress too much about what you are doing. While you're on campus, I think the best thing you can do is delve deep into your studies and succeed academically. And, the summers are really when you get some experience under your belt and learn and see. And to be honest, there's nothing that the average banker knows that is incredibly more complicated than, say, a student in Princeton. Figuring out the core foundational skills that you're learning on campus will serve you well, and everything else you can learn in the field. But of course, it is most important to be well-researched and well-prepared. So, when I started out, I gave myself assigned to reading every morning so that I could walk into meetings more prepared, and more informed about what was happening around in the macroeconomic environment. And, I also had a series of textbooks that I would purchase the second I started out that helped me research terms and look up anything that I didn't know. So the same skills that you use to ensure that you write a good thesis, you probably should use just day to day, in your career. When you start out, make sure that you learn. But, there is absolutely nothing out there in the corporate world that is unduly challenging for someone who applies themselves and studies.

BT: Thank you. You quickly rose to the position of CCO at Ariel Investments, after holding positions of executive VP at Edelman and then VP of corporate crisis issues. What advice do you have for other women aspiring to be executives and in male-dominated fields?

AP (Arielle Patrick): So, I never actually sought out to be an executive. I wanted to learn and then went from there. I would say that I actually faced a bit of a psychological challenge when I actually exceeded my own expectations in my career because I became worried about what was next. So I think I probably have a little bit less advice to give to someone who sets out and says, I want to be an executive, I think you have to figure out first why and for what type of institution and what kind of impact you want to make. So, for me, learning was first and foremost that I could figure out what I wanted to do. But, my ‘Northstar’ ultimately has been service honestly. So, I always want to be the kind of person who, no matter where I am in the world, I'm able to be supportive of people who need something. So, if someone says “I need a referral to a board member of a major hospital because there's someone in my family that's sick”, I love having the ability to be able to say, "I know a board member there. I can hook you up.” So, to me being successful, honestly, is just so that I can continue to amass that kind of influence and that kind of community where I can use it for others. Anything else, I am not really that interested in. So that's why being an executive has been interesting for me is that I've noticed that my network has only grown and my ability to help people has only continued to amass. So, I'll just keep doing that. You know, almost every day, I look into my inbox, and there's someone who needs help with a job referral or needs to meet somebody that will help them in some area of their life. And it's very rare that I don't have the answer or someone who's remotely connected to that person, I can get that done. And so that's what I really enjoy is being a connector and leveraging the success and the people that I've been able to get in my orbit for others.

BT: And, final question. What does personal philanthropy look like?

AP (Arielle Patrick): So, for me, I really focus on the causes and the institutions that I believe in. So, I sit on several nonprofit boards. And, that's really where I direct most of my giving. Of course, one-off asks happen all the time, and I consider it if there's a timely reason, or if there's someone associated with an organization that I really believe in and am passionate about supporting. But, my perspective, honestly, is that the best way to make an impact isn't always through nonprofits. I think you have to look at before you determine where you give, look at data. There's public data out there on platforms like GuideStar that actually helps you understand what percentage of capital that comes—as in that is raised—is actually used for the mission versus marketing expenses, you know, paying salaries of staffers, you'll find that a lot of nonprofits are not exactly walking the walk in terms of how they're structured and how they're directing capital. So the companies rather than the nonprofits that I support are ones for which I've done that research for which I'm committed and actively volunteering on a day-to-day basis, not only capital but time. And, that's where I really think about directing my efforts. I can't be everything to everyone. So, to me, focusing on papering the country and giving many donations to every nonprofit, that's not the best use of my time or my capital. I'd like to double down on where I truly believe and make sure I do my research before I make a commitment.