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What should residents be thinking about doing to position themselves for the most competitive compensation? Does pursuing further specialization through fellowship really give me a better bargaining position and "economic moat"? Or does it depend more on the local market and hiring demand? What is the market premium that physicians with fellowship or similarly advanced training (additional degrees, industry/research experience, etc.) should expect? How do those individuals translate nearly a decade and a half of schooling and training into the fullest and fairest compensation possible?