Three words: prepare, prepare, prepare! If you do not have a background in fixed income, macroeconomics, capital markets, etc., then you have a lot of preparation required ahead of you. Although the firm has expanded its offerings into active equities and alternatives, the cornerstone and foundation upon which Bill Gross built the PIMCO empire is still Fixed Income! Make sure you ramp up (or brush up) on your grasp of the financial markets (from duration and convexity for bonds, to P/E ratios and multiples for equities).