I didn’t join the partner as a $5.00 member until I was earning at least twice that per month, and was not quick to become a friend of Medium either.
They say that a FOM, those whose stories you read, clap, and comment on get a larger payment percentage. However, you don’t make any extra yourself.
Perhaps, if people see you have a FOM badge on your profile they may be more inclined to engage with the hope you read their work, but I have no proof that that happens.
I would suggest not to become a FOM until you are making at least $50 per month, but that is entirely up to you.