Fellowship can provide significant increases in your annual salary. This helps you catch up on your opportunity cost quickly. Let's say that you anticipate making an additional $10,000 each year that you wouldn't have otherwise made without the fellowship.

Do you make more money if you do a fellowship?

A fellowship usually follows residency and is designed to train fellows in a narrower specialty. While some fellows may earn more than residents, the salary is still lower than for most working physicians. Usually fellows have to pay for the majority of their living costs, including housing and at least some meals.

Is it worth doing a fellowship?

While unpaid opportunities are definitely worth it for the experience, getting paid to do what you love can be an added bonus. Paid fellowships cover the cost of things such as room or board, project materials, transportation costs, and food.