One of the present industrial requirements is the development of high-speed, high load-carrying capacity machines. The problem of instability in high-speed conventional fluid film bearings can be prevented with the use of externally adjustable fluid film bearings. In the present study, the elastohydrodynamic behavior of a single pad externally adjustable fluid film bearing is reported for radial and tilt adjustment of the pad in the upward direction. Using the computational fluid dynamics (CFD) technique, a numerical study has been performed to measure fluid pressure generation for various eccentricity ratios. Later bearing deformation and stresses developed in the bearing are predicted using ANSYS commercial software. The current numerical method, which can be used to solve complex bearing models, has been evaluated against previously published literature, and the findings are in good agreement. The results of the CFD study indicate that bearing performance is superior when the pads are adjusted in the upward direction at a larger eccentricity ratio. Under the same geometric modification, design parameters such as fluid pressure, pad deformation, and stresses are evaluated and compared using the one-way and twoway fluid structure interaction (FSI) technique. These two-way FSI results help in the bearing design stage.