"Are You Destined to Deal?" With Goldman Sachs Managing Director Jim Donovan

[@PatBatemanAtDorsia]

this dude is the most banker looking banker I've ever seen.

[@fakedonttrackmevro6629]

That says allot coming from you.

[@edcrouch7803]

I’ve been an investment banker for 38-years, and have one thought to add to his excellent list of skills and attributes: Do what you say you’re going to do, when you say you’re going to do it. This simple commitment will set you apart from almost everyone else.

[@Friendznco]

This guy has a B.S in Chemical Engineering from MIT, an MBA from M.I.T and a J.D from Harvard... Seriously impressive.

[@jdavis234]

10 seconds in I knew I wasn’t destined.

[@nomercyside4837]

haha this comment made me laugh

[@reflect001]

HAHAHAH

[@seancoyne3261]

I’ve spent 35 years in deal making and large client relationships. This guy is the real deal. He has a theme about competence as a core that really resonates.

[@brucehan6454]

Skills you need: 1. Make your client believe in you 2.Quantitative skills 3.Interest in business ( Wallstreet journal, front page, 4-5 every week) 4.Discreet (don't talk) 5.Fine with confrontations 6. Put the client first. make them your priority. other things to mention: Be a student when you first start. Find yourself a tutor, learn from the good guys. Have a system.

[@bryceclark8985]

But can you get a reservation at Dorsia?

[@BoloBouncer]

"The best way to convey a sense of confidence to the client is to be competent." This applies to every facet of life and is a golden ticket if you know how to use it.

[@marc6621]

What a time to be alive - in the pre digital age, 99,999 % of the viewers would have not gotten to enjoy this lecture. Nowadays it’s just at your fingertips

[@theplaintiff5450]

I had the distinct pleasure of meeting Mr. Donovan & working with him on a project some years ago. If you think this video is impressive, in person he is astounding. Sheer professionalism, calm demeanor, and cunning patience are his ingredients to success. He comes across as calm, collected, and calculated - because he is. Everything he does at work is calculated. Many of the people he has managed over the years have moved up the ladder in their own rite.

[@dennistanui7085]

Everything about him is deliberate, his body language, his tonality, his competence..........briliant

[@whotube88]

They say he is the most charming guy at Goldman Sachs.

[@meowdalachow7932]

drives a lambo

[@itaintaproblem]

this is charming to you?...

[@HeisenMannj]

Lol 😂

[@jerryking7270]

@@itaintaproblem that's the joke

[@Jmacaa11]

He's a great speaker. Hardly heard him say 'uh' or 'erm' in the whole speech

[@maximegrossman2146]

Very well rehearsed; 3 reasons why it's fun; 6 skills you need; 2 routes law degree holders take. I don't think I heard a single "uhm" or "uh." Super impressive. Thanks Mr Donovan.

[@RAF_Ai]

this man is pure rationalism, that’s why he is so good in what he does. But its also terrifying

[@rileycurtis6704]

The internet is such a great resource. You can get access to anything you want at the click of a finger..

[@Steve-pw7xm]

I've been a corporate warrior for the last ten years. Mr. Donovan left out one important piece of advice: "don't leave behind your soul."

[@dutchman55]

Steve Mc wish I could like this twice

[@fundinkuta7082]

how do you find the balance?

[@austin7530]

I’m three weeks into a corporate job and I want to die. How on earth do you people do this all day every day

[@123mcgarrigle]

Fundi Nkuta - If you want to make it to the top positions, you don’t.

[@MrRooibos123]

@@austin7530 cocaine

[@Dakid015]

As serious as he looks, the fact he's willing to share helpful advice shows deep down he's a helpful, approachable, even friendly person. It's just the environment he's in that molds him to be tough and stern on the outside. Makes me wonder how many other investment bankers are actually like this.

[@Slecker95]

I just wanted him to start thumping his chest and shout "GOTTA PUMP THOSE NUMBERS UP!"

[@liamfmackle]

Slecker hahhaha

[@effenspirits7043]

Jim's ending point is magical. "I'm not gonna do that to you." Excellent advice.

[@bubbasernie5762]

You guys making fun of him for being soulless and boring, I just see a focused intense dude.

[@AlmostaFlipinSkater]

I see a white collar thief.

[@achilles1001]

I’ve been a corporate lawyer for 25 years, most of them as a capital markets/securities/M&A lawyer. I wish I had seen this when I was a young lawyer, and I will recommend this video to all of my younger lawyers.

[@Great_Ghortz]

Jim Donovan is soo articulate and really knows all the stuff he is teaching about, love seeing this, great lecture.

[@RichardDiStefano]

This guy is sharp AF

[@djerassemdjimhotengar3968]

What a similarity with Harvey Spencer of Suits !

[@jeffcampbell6847]

@@djerassemdjimhotengar3968 Harvey gets more emotional than he seemed, at least in the play

[@TT-rq3so]

Work/Life Balance: Find something and protect it, everyday, such as reading a book. Eye opening advice and perspective into his world.

[@levitation5129]

TT is it just me or did you think he was gonna say that his thing was spending those 30 minutes with his daughter back when she was between 1 and 6 ? Kinda broke my heart when he didn’t mention her

[@dennisgordon7767]

i vigilantly protect my 10 hours of apex playing per day

[@Aslicom]

Plot twist: he's only 21 years old

[@Daegend]

I really like these types of videos. No feel-good motivation, straight to the facts. If you guys know other videos like these ones dealing with money, entrepreneurship or sales that’d be great

[@Jayhawkfinance]

A speech I revisit time and time again when I need that reminder on how to carry myself when it comes to the world of business

[@DonutVideos]

I'm not even a law student but I feel like you could apply these principles to any field and find success by using them

[@cookyum501]

He got to become a M.D and partner in 7 years at Goldman. That is truly phenomenal.

[@tobia.1281]

Rainmaker ish

[@aleksandardobric3000]

Yea he did, and you think it’s because he’s super human, truly phenomenal. No, do some digging, his father was a very powerful man. But keep dreaming of this guy and how phenomenal he is

[@koormadute]

His dad is professor at mit achool of management

[@kenjiltcy]

Necessary skills: Tangible skills. 1. Interpersonal skills - the ability to convey to client that they should have confidence in you. 2. Quantitative skills. Be comfortable with numbers. 3. Have an interest in business. You do not need to have a background but you need to manifest it in yourself. Read the wall street journal. Spend ten minutes reading it. 4. Be discrete. You will be trusted with confidential information - exercise good judgement. 5. Be ok with confrontation. You cannot avoid conflict - you will be sitting opposite people that you will have to negotiate with. Be ok with that. 6. Put the client first. Make sure they know that they're THE priority. Intangible skills. 1. Be a student and an open book. Find someone who does the job well and study them. Be a student of the business. 2. Have a system. This is for everything, from pitches, onboarding to celebrating with clients. 3. Be in control. Be decisive in front of the client. 4. Have empathy. Understand your client's concerns and their positions. Reflect your awareness back to them.

[@asianmaddness56]

This guy is so darn sharp. I watched beginning to end. Very translatable to ANY industry.

[@charlie3k]

Despite the negative image associated with investment banking, this guy actually started to come off as humble and very helpful as the video progressed

[@andyangchannel]

The negative image are created by those who are jealous of the super rich

[@303machine]

​@@andyangchannelMajority of super rich are rich on expense of others and their exploitaion of society, by corruption, nepotism, "lobbying" (bribery) etc. Socialism for the rich, capitalism for the rest.

[@hengloke]

For those curious he starts talking about work/life balance around 16:18. His answer is consistent with almost every other successful equity partners'. In a nutshell, they rationalize the sacrifice of family life with a dollar value...whether you think that's worth depends on what you prioritize in life. All I can say is I've never heard of anybody's last dying words as "I wish I worked harder earlier during my career".

[@naposthecavalierkingcharles]

Yep. Biglaw equity partners have mental issues.

[@furrywooky]

No fancy PowerPoints.. Just clear articulation, balanced intonation, concise to the point, confident body language.

[@Alex-ss4bp]

This guy seems like the ultimate professional, great video

[@KP-dd2ci]

That was the line or rationale an MD in M&A gave me when I asked him why I should join his group. "It's the most important project for a CEO." His temperament was very very similar to this guy. Presumably, both very smart and accomplished, but also void of too many emotions. Not exactly someone you want to do a cross country road trip with, but someone you want advising you on a deal. Related, when I was interviewing with one of GS's rivals, think MS, or JPM, when I asked this MD how he was doing, it was literally like I was the first person to ask him in a very long time. He took a deep breath and sighed and bitched about his job for a while, and how after he missed a couple of social invitations, people just stopped inviting you. Kinda surreal as a bright eyed undergrad listening to this captain of industry possibly lament about his career choice. Anyhoo...this vid brought back some memories of those days. (Btw, and for what it's worth, I got the offer at said i-bank in NYC. So it definitely didn't hurt me when I tried to be a human being and asked the MD how he was really doing.)

[@NeokingTech]

Do you have a legitimate interest in ibanking or are you just looking to pay your dues and climb the finance ladder?

[@mohssinekafih215]

Engaging confident speaker, thank you.

[@droptak]

College: deadline is tomorrow Me: you’re too important to me, I can’t do that to you.

[@Wvk5zc]

it works most of the time!

[@aimeezheng8582]

hahahahahahahahaha

[@majdsahmarany3091]

I have had more valuable lessons from this 30 minutes talk than I have gotten from my 4 years bachelor degree. This man is bloody smart, bloody sharp, and bloody charismatic. I am going to apply for Management Consulting firms in the next few months, and I believe this has given me such priceless lessons and lines. Thanks for sharing that, and wait for me I'm coming. Cheers

[@iloveeveryone8611]

BS in chemical engineering from MIT, then a MBA from MIT, and finally a JD from Harvard. Wow. This guy is impressive.

[@dhill92]

I love you too

[@magnificencetv7424]

I'm from the middle east and im 30 years old. My dream is to do an mba in an ivy league and venture into investment banking. Once im done with cfa level 3 I'll try my very best to get into places like wharton and then the top investment banks. Im not afraid to start all over and be a student in my 30s but i will keep learning work my butt off to build my credible reputation. My motivation is to make my father proud. That's honestly my drive. Hopefuly everything works out.

[@joshuaglassmyer8358]

Really helpful and insightful. I work in sales for cloud technology, and though we do a lot of interaction with the CTO/CIO on the how, the CFO is the hard sell on why us, why now. Videos like this help me to understand the realm a little bit better. It's more objective and negotiation-focused than "clapping someone on the back" as he said. This is greatly appreciated.

[@greer15]

Secret sauce: logic, integrity, honesty and common sense.

[@uciaok]

What this man has said apply to not only investment banking but to all businessman like in general. this is the right mindset to whoever are eventually going to deal with clients and opponents or business rivals and look how sharp and articulate he is. I truly hope in the next 10 years I could develop or better “steal” some system and modify to my own and be just as successful and wisdom as he is.

[@patrickren7395]

The questions are really good, well organised and to the point

[@robertluna9361]

I’m a medical student with an interest in business. Grateful to the KZbin algorithms for this insight. Mr. Donovan’s 12 minutes of advice will help me become a better doctor. My patients are my clients - it’ll be my job to advocate for them, advise them, empathize with them, and close deals with them in terms of collectively aligning ourselves with my recommended treatment plans. I love the high stakes of having people’s lives and health apart of every transaction. I’m just missing out on the adversarial aspect of M&As. Awesome video.

[@naposthecavalierkingcharles]

Cool idealism. What you’ll mainly do is worry about whether insurance companies will pay and the requirement that you spend no more than 3 minutes with each patient.

[@gonzaloenrique8741]

Sometimes when he's feeling really wild, he will loosen his tie

[@louisjolliet3369]

Since his advice do not only apply to junior positions ("take control" is an advice for a more senior role), I think that he left a crucial piece out (possibly the most important): FOCUS ON CRITICAL ISSUES. IMO what caracterises true deal-makers is their ability to weed-out the noise, identify what matters and add value-on that.

[@rohithr1797]

I can see from his demeanor he is really good at giving vibe of highly capable person and from his delivery of the speech we can analyze how his tone never varies, it never spikes or dips. it is in monotone, that helps in conveying a message of " I know what I am doing". only during the Q/A we can see his tone varies since he is not prepared with every answer. he is the person if I will employ me to represent me in IB but I would always keep him at a arm distance.

[@pingu9951]

Well this is an unexpected, yet welcomed surprise in the recommendations

[@moviedude22]

Agreed.

[@chioptnstdr3448]

Same

[@emmanuelalozie5812]

Agreed

[@j.i.s.l178]

. . .

[@upanshu123]

Guy who works at Goldman's tech division. I'm amazed these people also exist in the firm. The culture around me is very relaxed and informal.

[@73lube]

He’s so professional I can’t even picture him in any other attire. He probably goes to the beach in a tux.

[@dantonchat71]

"you need to be able to work on excel without the mouse and fix REF!"

[@Kermitgene]

Was skeptical at first. But gradually into the talk, I was really impressed. Thank you for sharing. Some things in the professional world are not fun and games; investment banking is serious business that impact lives.

[@jeffyboyreloaded]

"Why it's exciting to do deals" he says, in a perfectly monotone voice, indicative of the many years he has lived without a soul actually pretty good insight though

[@TheSwross]

I watched this video so I could feel less stressed about my job teaching English in Thailand...

[@adielstephenson2929]

Much better to listen to someone like this who's actually been there and done that rather than one of these clueless success gurus.

[@marwanelesk]

Great lecture - it is important to note that this can apply to any job with a front-facing role and not just in the private equity or investment banking space. People skills will get you places.

[@confusionconclusion502]

human relationship is based completely on transaction, most of these things will come naturally to those with the aspiration to succeed.

[@farooq7390]

His professionalism is impressive, I hope I can talk as fluent and logically as him

[@W67w]

He is not an entertainer. He is there to teach. So learn

[@BG-ct7ny]

It is all about adjusted EBITDA and sleds stop lying

[@jamisteven1]

“Calls and E-Mails at 2.3,4am in the Morning!!” WHERE DO I SIGN

[@chaseofori-atta2225]

@UVALAW truly belongs to the world. Thank you for sharing this in-depth insight with students & non-students alike--well done!👏

[@QiDONG]

Not entirely sure why this was recommended to me, but happy to watch a UVA LAW video. Go hoos!

[@krishnayogeshwar7503]

27:13 "You're going to be fu-- you're gonna freak out" good save

[@markettrader911]

I worked in the corporate world and these people take themselves so seriously. They’ve lost sight of living life.

[@jmueller8081]

Great tips on copying an existing system, the specific skills that add value. Only thing that I wonder about is the presentation/style of confidence that keeps coming up. To me, the information itself I would think would speak for itself. I do appreciate his comment about being specific if feedback is a judgement, advise, etc... Great content, thank you Jim!

[@DaveLopezMixing]

Many excellent points about working with your client, Jim. Thank you, and UVA for sharing.

[@derekrhoades2861]

8:57 there was a glitch in the Matrix

[@awgharris]

Relationships are more valuable than GOLD.

[@ultra_combo]

Literally looks the part to a tee, this is 100% what you think a successful banker looks like

[@ThePandaGuitar]

@President Santana Those are usually the CEOs hiring these guys.

[@ひひはひひ無し]

Exactly like Agent Smith hah?

[@Itz_Pawangoled]

First 12 min Advice he gave is on spot.🔥

[@jaymerubio4502]

Very well spoken and educated.

[@ssubhan9003]

He forgot the 5th intangible skill: - be a sociopath

[@alexh.4842]

This’s actually much more authentic than I thought. The most fascinating point to me: “it’s exciting coz it’s intense”. 2nd one: “choose something that’s special to u and protect it.” The last part is very sales...😂

[@tobia.1281]

The most polished deal maker on YT

[@TheRealTAKO]

Don’t forget to live before you die. His job owns his body and mind.

[@cacophonoid]

this

[@bromill2676]

Live? He has a career he feels engaged and I’m sure he’s financially well off and he has time for his family. Life is about meaning the importance of his job gives him meaning. The other side is he’s helping businesses which are owned by people he’s helping people at one of their most vulnerable times in their life.

[@d90b11]

Therefore you own the money the job gives you. No financial fears, being able to help your family, social status, the feeling to really impact the lifes of others positively, having constantly new challenges, getting to know new people... depends a lot on individual values, but for me this sounds a lot like living to the fullest

[@_godsl4yer_]

Some men don't care. Some men will sacrifice everything and put their careers first to get to the top.

[@dutchman55]

Jack Kindel if you do something you love and are passionate about, this isn’t a problem.

[@dnltjs2]

Tangible Skills 1. Interpersonal - need to work on this 2. Quantitative - good 3. Interest in Business - Wall Street Jour 4. Discrete - Just don't talk about business matter outside work 5. Ok With Confrontation - ... how do I work on this. I guess just know my shit and learn to negotiate 6. Put Client First - email sound on.. but how the fuk would I hear a sound of an email when I'm sleeping lol Intangible Skills 1. Blank sheet of paper, be open minded. First couple years, you just gotta learn from a person like a student how they work 2. System for pitching getting hired toasting for finishing a deal - copy from a good person 3. Take control. Convey your expertise. tell them what they should do this is going to happen if you do and don't - client might know about manufacturing but we know more about certain sectors of our expertise "I'm not gonna do that to you, you are too important to me. If I meet that deadline, I won't be able to deliver the outcome that is optimal for your company and this tramsaction." 4. Have empathy. If you want to work at other companies, usually client company, keep relationship with them and tell them that you are really interested in that fieldtransaction. Questions: how do you build those interpersonal skill? how do you suggest us becoming a student? do we literally just go to a people who seem to he successful and just watch and learn by his side..? Summary: To become a successful investment banker, you need to have very good interpersonal skills and system in place to make your client want to hire you and feel confident in you. Gotta stay on top of the business world. Start by reading WSJ. Always respond within 5min when you get a message from your client. Be discrete. Be ready to fight for them. Think in their shoes. Make them your priority. Throughout your career, learn and copy from a successful person in your field. Be open minded. With the expertise you have, know that you bring value and convey that to your client. Be in control. Analysis: He did a great job by just bullet pointing his message. it was clear and succinct. It was better than gibberish. Giving some clear ways to do something was also nice. Maybe a little more enthusiasm would have been nice. Tone: IB is fun. you gotta expect to work your ass off to have a life. You have no life. Perspective: you can have some free time if you are good at manipulating people but that is 0.1%. my experience was that I had to work like a crazy bitch. Kinda in line with what he says. Connection: like that FBI guy, you need interpersonal skills ready to do anything in this world. everybody says to read Wsj. everybody says I need a mentor a person to learn from. at my firm, I definitely need to find someone to copy and learn from and be a student for a couple of years. Must read wsj and read some books on interpsonnel skills.

[@ricebaby4108]

Wow, he looks so charismatic. The idea of being involved in corporate and investment banker life seems so bizarre to me. Kudos to those who are in this field. I could never!

[@BiancaAguglia]

This was an interesting and useful presentation. Plus, it applies to many other jobs and to life in general. Bonus point for that. 😊 Thank you.

[@amunra4015]

This guy was also a fundraiser for a presidential candidate in the 2016 election. Ironically it was low energy Jeb.

[@robert301990]

He got him the money tho.

[@MH001BR]

he looks excited with his work. I imagine it would be exciting working for him.

[@a.n.z.2084]

Thanks for having shared this video. Jim is a great teacher. I appreciate how he clearly lists his main arguments in bullet points. A lot of contents he covered are still very much applicable today in 2020!

[@gerdklumpe5487]

Brilliant presentation, no power point, no bullshit...

[@dac8939]

When this guy was born he told his parents they made a good investment

[@afifahmed4941]

This guy can get a Dorsia reservation on a Friday night

[@LeadLeftLeon]

Jim’s advice is useful for all customer facing roles not just bankers and lawyers

[@8Trails50]

Where the hell does someone learn to speak like this lol? Not a single "um". Straight to the fucking point.

One of my favorites videos on KZbin

[@emmanueloluga9770]

The title is probably my best on the tube. Imagine walking into an interview, and you get asked; “Are you destined to deal?”… sheesh, show me the brick wall I need to run into already, because I’m fired up NOW!!!!

[@bbsara0146]

His advice about people hiring people they have done business with in the past is spot on. I have hired the accountant from my third party administrator to be my in house fund accountant. I also hired a lawyer who worked for the fund administrator to be my in house general counsel.

[@jt0851]

I could listen to this man all day.

[@Byreka]

As someone working in the industry, at a top consultancy, most really don’t enjoy their jobs or the 70 hour weeks. Yes, you’ll be paid well but at the cost of living an enriching life.

[@whotube88]

This could have been a podcast

[@FredChen-f4i]

Thanks for uploading this, it is high-quality!

[@unuakhe]

The man has the charisma of a military commander.

[@christophersurnname9967]

Very straightforward and helpful

[@dr.williambsb4367]

I loved having studied at this beautiful school. A place that always marked me Dr. William.

[@JG-sg7yy]

Put the client first coming from Goldman smh.