IM is stupid competitive, and it boggles my mind. It's basically med school part 2 at university programs. You are in a class of 30 or so people, and you are competing with your peers for the fellowship match. Why anybody would want to subject themselves to med school again but harder, longer, and with more responsibility, and especially subject themselves to the worst part of med school, medicine wards, is beyond me. 6 days a week of 14-16 hour days of social work, rounding, paper pushing, and body fluids? Yeah, that's a reasonable and healthy way to live. Then you get out and you get that sweet hospitalist job you coveted and spend your week off recovering then kill yourself all over again. It's basically being waterboarded for the rest of your career and thinking "if only I can get through this week..." over and over again.
Medicine wards sucks the life out of you. I can't imagine it doing it as a career. I wouldn't do it for $500k. I wouldn't do it for $1m. I would do it for $5m. I could suck up three years of residency and two years of work and retire. 5 years of my life in my 30s is worth no less than 10 million dollars. Yet we got people lining up to do it for $200k/year? Think about it. There is a reason your attendings are only on the wards a month or so a year. There is a reason hospitalists work 7-7s. In other professions, people do the same job throughout the year. Why do IM docs only do ward medicine part of the year? To anybody else, this would be suspicious. But not to med students. To them, it's a perk.