Built for medical professionals
Fellowship ROI Calculator
Evaluate whether fellowship training pays off by modeling stipend changes, opportunity cost, and post-fellowship earnings.
See breakeven timing and long-run income differences with 2026 compensation assumptions.
What this calculator helps you do
- Compare resident vs fellow stipends and attending salaries.
- Include opportunity cost and delayed earning power.
- View breakeven months and lifetime cumulative deltas.
- Stress-test assumptions with conservative and optimistic scenarios.
Who this is for
Residents and fellows deciding whether an additional fellowship year aligns with their financial goals.
Fellowship ROI Calculator
Estimate breakeven time and lifetime ROI when pursuing a fellowship versus remaining in your base specialty.
Inputs
Override market salary for your base specialty if known.
Expected increase (or decrease) compared to base specialty attending salary.
Results
Calculated in real time as you update inputs.
Breakeven Time
4.0 years
Time after training to recoup opportunity cost
Opportunity Cost (foregone salary)
$480,000
Lifetime Incremental (20y)
$1,920,000
ROI over 20y
400.0%
Fellowship stipend (per year)
$80,000
Explanation
Assumptions: opportunity cost equals base attending salary times fellowship length minus fellow stipend; breakeven divides net cost by the post-fellowship salary delta. Lifetime ROI uses a 20-year horizon post-training with no discounting or growth; adjust salary delta to match your offers. Negative deltas will show N/A breakeven if there is no recovery.
Non-Device Clinical Decision Support (CDS) Notice
This calculator is Non-Device Clinical Decision Support (CDS) and is intended to assist, not direct, independent physician judgment.
The clinician is responsible for verifying the underlying math and assumptions against cited PubMed references before applying outputs in care.
How to use this calculator
- Enter current PGY pay, fellowship stipend, and projected attending salary.
- Set duration of fellowship and expected salary uplift.
- Review breakeven timing and cumulative ROI outputs.
- Adjust for cost-of-living or part-time schedules if relevant.
- Use the results to inform conversations with mentors.
Understanding your results
- Non-salary benefits and lifestyle fit matter; this focuses on income only.
- Job market demand varies by region; verify local data.
- Assumptions use 2026 dollars; adjust for inflation if modeling further out.
- Do not rely on this tool as financial advice—treat it as a planning aid.
Common questions
Does this include loan forgiveness impacts?
No. Incorporate PSLF or refinancing impacts separately.
Can I model part-time fellowship?
Yes—adjust stipend and duration to reflect part-time schedules.
Is the ROI guaranteed?
No. This is a directional model; actual outcomes depend on job market and contracts.
Which year’s dollars are used?
Outputs are in 2026 dollars for consistency across calculators.
Sources and methodology
- AAMC
- MGMA/Medscape compensation data
- IRS
Changelog: Updated for 2026 assumptions and refreshed copy.
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