Do fellowships give you money?

Yes, most fellowships are paid, typically with a salary or a fixed stipend, but the amount varies significantly by field (e.g., medical vs. academic/research) and institution, with medical fellowships often following residency pay scales while academic ones might offer less but cover other costs like housing or travel. While some unpaid opportunities exist, paid fellowships are common, providing funds for living expenses or project-related costs.

Do fellowships give money?

Fellowships are sponsored by the association, organization, institution, or government which gives their fellows a monetary stipend.

Do you get paid during a fellowship?

Yes, most fellowships are paid, typically through a stipend or grant that supports the fellow's education or project, rather than an hourly wage, but the funding purpose and tax implications vary, with some funds covering tuition/fees (potentially tax-free) and others for living expenses (often taxable). Fellowships provide financial support for learning, research, or specific projects, differentiating them from unpaid internships or employee roles, though some advanced fellowships in medicine can function more like jobs with salaries. 

Do fellowships offer benefits?

Benefits Of A Fellowship

If it doesn't come in the form of compensation, then a fellowship may provide you with stipends for travel costs or living expenses. Additional benefits of a fellowship may include: Student loan forgiveness. Health insurance.

Do fellowships make a lot of money?

Medical Fellowship Salary

The lowest salaries for this profession are around $25,364 per year, while the highest salaries can reach up to $92,000 per year. While it's true that fellows are typically better compensated than residents, fellows do not earn as much as physicians practicing in their specialty.

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What doctor makes $500,000 a year?

Doctors in surgical and high-demand procedural specialties frequently earn over $500,000 annually, with top earners often being Neurosurgery, Orthopedic Surgery, Plastic Surgery, Cardiology, and Thoracic Surgery, driven by complex skills, high demand (especially with aging populations), and lucrative elective procedures or emergency needs. Other fields like Radiology, Gastroenterology, Urology, and Anesthesiology also see average incomes exceeding this threshold.
 

What are the hardest fellowships to get into?

The top-three most-competitive fellowships for applicants who are US medical graduates (USMGs) are gastroenterology (internal medicine), with 68.7 applications/applicant; cardiovascular disease (internal medicine), with 64.9 applications/applicant; and gynecologic oncology (OB/GYN), with 54.5 applications/applicant.

What are the cons of fellowships?

Fellowship Cons

• Hard work is non-negotiable. These opportunities demand consistent hard work. ...
• Deadlines matter. Fellowships have strict guidelines and protocols, so if you are the kind of person who tends to procrastinate, this opportunity may not be for you.
• Applying doesn't guarantee selection.

Is it hard to get into a fellowship?

Most fellowships are competitive for many reasons. This is largely because of the limited spots available, which makes them even more challenging to apply for than residency programs. The key to success is to be ambitious, plan ahead, and prepare to show your full potential.

How much do fellowships pay in the US?

Average base salary

The average salary for a fellow is $61,444 per year in the United States. 988 salaries taken from job postings on Indeed in the past 36 months (updated December 28, 2025).

Are fellowships paid or unpaid?

Yes, many fellowships are paid positions, offering a stipend or salary, benefits, and sometimes covering expenses like travel and housing, while others may be unpaid opportunities for experience or study; it depends heavily on the specific program's goals (e.g., professional development vs. research support) and sponsor. Paid fellowships usually provide a set stipend for advanced, independent work, often with benefits, and can be found across government, non-profit, and academic sectors. 

Why do doctors do a fellowship?

Fellowship training provides physicians with experience in new technology, deepens their compassion for patients, and expands their expertise to provide the most effective care to their patients.

What is the highest paid residency?

The highest-paying residency programs generally fall into surgical and specialized fields, with Neurosurgery, Orthopedic Surgery, and Plastic Surgery often leading in potential post-residency income, though resident stipends themselves are similar across programs, with variations based on PGY level and location, not specialty; specialties like Cardiology, Dermatology, and Radiology also rank high in future earning potential. 

Do you get paid while doing a fellowship?

Yes, most fellowships are paid, typically through a stipend or grant that supports the fellow's education or project, rather than an hourly wage, but the funding purpose and tax implications vary, with some funds covering tuition/fees (potentially tax-free) and others for living expenses (often taxable). Fellowships provide financial support for learning, research, or specific projects, differentiating them from unpaid internships or employee roles, though some advanced fellowships in medicine can function more like jobs with salaries. 

Is a $5000 scholarship good?

Yes, a $5,000 scholarship is very good, as it's a significant amount that can cover a large chunk of college expenses, often meeting the average award range, and can even be renewable for multiple years, potentially totaling $20,000 or more, making a huge difference in college affordability. 

Is a fellow higher than a PhD?

A PhD is a degree, the highest academic qualification in most fields, while a "fellowship" is usually a temporary, advanced training position after a PhD, making the person a "fellow" (like a Postdoc Fellow or Medical Fellow), which comes after the PhD in terms of experience, but it's not a higher degree, just a role/training stage. So, the PhD is the degree, and a fellow is often someone with a PhD doing further, specialized training or a prestigious research role. 

Are fellowships a big deal?

Yes, a fellowship is a big deal; it's a prestigious, highly competitive opportunity that offers significant career advancement, specialized training, funding, and invaluable networking with established leaders in a field, setting recipients apart for future academic or professional roles. These merit-based programs are a major resume booster, showing dedication and expertise, and can provide financial support or resources for research or education.
 

What are red flags for residency?

Residency red flags are issues in an applicant's record like failed licensing exams (USMLE/COMLEX), low board scores, poor clinical evaluations, significant gaps in education, or professionalism problems (disciplinary actions, criminal history), which can signal potential challenges for residency programs; however, these can often be addressed by providing explanations, demonstrating improvement, and highlighting growth. Other flags include weak letters, generic statements, or a poor match between goals and specialty.
 

Which fellowship is least competitive?

Family Medicine: The Backbone of Primary Care

Family Medicine is almost always among the least competitive specialties by numerical metrics, but it offers one of the broadest scopes of practice.

How long do fellowships usually last?

A fellow is a doctor who has finished medical school and residency and has chosen to further study a subspecialty in medicine. Fellowships are approved by the Accreditation Council for Graduate Medical Education (ACGME) and usually last one to three years.

Does a fellowship look good on a resume?

You'll want to mention what you produced, changed, improved and mastered during your fellowship(s) both in your resume and throughout the application process.

Are fellowships taxed as income?

The Internal Revenue Service (IRS) and the California Franchise Tax Board (FTB) consider graduate fellowships taxable income. A portion of fellowship may be excludable from your gross income. Your fellowship payments may include fee, nonresident-tuition, or stipend awards.

Is it prestigious to be a fellow?

Yes, fellowships are widely considered prestigious, especially national and international ones, because they are highly competitive, merit-based awards that offer significant funding, unique networking, mentorship, and career opportunities, marking recipients as top talent in their fields and boosting their professional reputation dramatically. Winning one signifies outstanding achievement and potential, often opening doors to advanced roles or further study. 

How much do fellowships usually pay?

Fellowship salaries vary significantly but generally range from the mid-$60,000s to over $90,000 annually, increasing with years of training (PGY levels) and dependent on specialty, institution, and location, with higher-paying fields like Cardiology and Orthopedics paying more than Pediatrics or Infectious Diseases. Fellows earn more than residents but less than fully practicing physicians in high-demand fields.