In the framework of the fatigue assessment of welded components, several methods are available in design standards such as the nominal stress, hot-spot stress, notch stress and linear elastic fracture mechanics approaches. The present paper aims at comparing two advanced local approaches for the fatigue strength assessment of different welded joints made of steel. The first one is IBESS which is based on short crack fracture mechanics. The second one is the PSM which instead involves the strain energy density approach. Both methods will be briefly presented, and the fatigue life prediction results discussed. The results obtained for the joint geometries considered in this work show advantages and drawbacks of the approaches, which are thoroughly analysed as well.