BackgroundEach year, the number of fellows entering Pediatric Hospital Medicine (PHM) fellowship is increasing. Residency curricula do not always prepare trainees for all aspects of PHM as a specialty and gaps often exist in the transition to fellowship.ObjectiveTo explore the preparedness of PHM fellows for clinical, teaching, and scholarship tasks at the start of fellowship and to identify opportunities for residency and fellowship program development.DesignQuantitative survey.Setting and ParticipantsCurrent and recently graduated PHM fellows (matriculation years 2019–2022).MethodsWe conducted a national cross‐sectional survey from July 2022 to February 2023. We designed survey questions based on PHM fellowship core competencies.Main Outcome and MeasuresWe asked participants to rate preparedness for tasks on a 5‐point Likert scale (1 = very unprepared, 5 = very prepared). We analyzed numerical data using descriptive and comparative statistics and free‐response data using inductive content analysis.ResultsWe received 223 responses to our survey (response rate 74%). Of the respondents, 25% reported no PHM‐specific orientation at their program (n = 55). Respondents reported lower median preparedness for research (3, interquartile range [IQR] [2,4]) and teaching tasks (4, IQR [4,4]) compared to clinical tasks (4, IQR [4,5]) at the start of fellowship (p < 0.01, p < 0.01). Content analysis revealed most fellows wished they had received more training around scholarship at the start of fellowship.ConclusionsMany PHM fellows enter fellowship feeling inadequately prepared, particularly in scholarship and teaching. Our findings suggest that residency and fellowship programs need to develop more robust curricula to better prepare trainees for successful PHM fellowship. This national survey‐based needs assessment should serve as a guide for further program development.