Generalist or specialist
Separate from academic versus community is a second choice: how broad do you want your practice to be?
Disease-focused
One disease or a small group: thoracic, breast, myeloma, leukemia, lymphoma, sickle cell disease, thrombosis. Deep expertise, trial leadership, referrals from a wide area.
Most academic jobs and some large community groups.
General hem/onc
Everything that walks in the door, benign and malignant, solid and liquid. Breadth, variety and long relationships with patients and referring doctors.
Most community jobs.
Hematology, oncology or both
Most combined fellowship graduates certify in both medical oncology and hematology, and most community jobs expect both. Some academic roles are purely hematology or purely oncology. Keep both certifications if there is any chance you will practice broadly; it keeps your options open. See the board prep guide.
Training beyond fellowship
An extra year can open specific doors: transplant and cellular therapy, hospice and palliative medicine, geriatric oncology, or advanced research training. Ask whether the extra year is needed for the job you want, or whether you can learn on the job with a good group behind you.