BOSTON – July 1, 2026 The FAO Schwarz Family Foundation has announced a compensation increase for the 2027-2029 cohort of FAO Schwarz Fellows.

Fellows will earn between $105,000-115,000 over the course of the two-year Fellowship.

In Boston and New York City, Fellows will earn $55,000 in their first year (includes $2,000 start-of-Fellowship bonus) and $60,000 in their second year (includes $3,000 end-of-Fellowship bonus). 

In Philadelphia, Fellows will earn $50,000 in their first year (includes $2,000 start-of-Fellowship bonus) and $55,000 in their second year (includes $3,000 end-of-Fellowship bonus). 

Due to the cost of living differences between the cities, the compensation for Boston and New York City-based Fellows will be higher than those of Philadelphia-based Fellows.

All Fellows will receive the same benefits as entry-level employees at their host organization, which will include health insurance and paid time off. Specific benefits, such as retirement plans, vary by host organization and will be detailed on our website when Fellowship roles are announced on November 1, 2026. Fellows will also participate in four-day fall and spring professional development retreats facilitated by the Fellowship, which rotate among the three cities over the course of the Fellowship.

Fellows’ compensation is paid by the host organizations, with funding support from the FAO Schwarz Family Foundation.

“We review income benchmarking data across each of the three cities that Fellows are based in each year. Using that information, we adjust our compensation as needed, to ensure that Fellows receive a living wage, good benefits, and significant leadership training,” said Priscilla Cohen, Executive Director of the FAO Schwarz Family Foundation. “We are committed to ensuring that our Fellows’ compensation is competitive with similar, distinguished fellowships.”