The 25-year-old was on the periphery of Newcastle's 2011 Championship-winning squad, and sees comparisons with the promotion-chasing Devon side.
"When teams beat us they celebrate like they've won the league, which is a bit similar," he told BBC Sport.
"It's the same - people up their game against us, which you've got to deal with when you're a big club like us."
On Saturday, Donaldson will make his first return to his last club Cambridge, for whom he scored the goal which won them promotion back into the Football League in 2014.
Argyle are second in the fourth tier, but were beaten by Yeovil on Tuesday, only their seventh league defeat in 27 games.
"Yeovil the other night, you should've heard them when they won, " Donaldson added.
"It's not annoying, it just feels better when you beat them because we should beat teams like that, but sometimes it happens and you've just got to move on and get on with it.
"We've got so many good players here - I've not played in a squad this good since I made the step up into men's football, so I think we all push each other on."
Plymouth Argyle midfielder Ryan Donaldson says League Two teams see the Pilgrims as a major scalp.