My view on reasons to do a fellowship:
If you are going into academics, do a fellowship away from your home institution. Academics rewards long CV's with varied training. The networking will be invaluable for your future career.
If you are going private, do a fellowship only if there is one area of anesthesia that you really love. It may be the only time in your career where you can spend a year doing nothing but your favorite type of cases. Just be aware that it is costing you at least 200 grand to do the fellowship. This is why I am doing a fellowship and I am having a blast this year, but every morning I wake up aware that the day is costing me over $500.
If you find yourself unhappy in the OR you can do a fellowship in Pain or Critical Care as a quicker way out than doing another residency.
If you are really paranoid, you may find some comfort in doing a fellowship. If medicine goes the way of nursing, we will be rewarded for how many merit badges we have on our resume, not for clinical excellence and understanding.
- pod