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Recently accepted to MD school and starting to think about program strengths/weakness/exposure at my school and then went to thinking about fellowships. I realized I know next to nothing about fellowship competitiveness. Is it more competitive than med school? Is there a huge range in competitiveness between different fields (not accounting for program prestige) eg: is a ortho spine fellowship harder to land than a nephrology fellowship? Why doesn't everyone do a fellowship, is it a question of opportunity cost?