Forgive the new person question, but I am strongly considering Medical school but lack the udnerstanding of the overall time-line. After 4 years of med school a student may, providing sufficient performance, graduate with an M.D. degree and proceed to residency. This residency may be anywhere depending upon 'matching' up with your requested specialty and location, (I guess, although I know little about this process and it intrigues me since I have a family, and dropping everything and moving may not be the easiest thing). Then, after enduring the rigors of 4 years (the standard), from there things get a bit hazy. My questions are; What is a fellowship and why would someone take another year of pitiful pay instead of practicing to start making good money? A fellowship sounds much like an extended residency. Is there anyone who could contrast the 2? My gratitude extends to any answers to my inquiries.