He cum laude graduated from the Ateneo de Manila University with a Bachelor of Arts degree in Economics.

Pangilinan won a scholarship to the Wharton School of the University of Pennsylvania sponsored by Procter & Gamble and graduated in 1968 with a Master of Business Administration degree.

[1] Pangilinan's first job was as the executive assistant to the president of Philippine Investment Management Consultants, Inc. (PHINMA), where he served for six years.

Under First Pacific's management, the company, which had been troubled by debt and technological issues,[3] improved to become the nation's leading provider of digital communications.

He founded the Samahang Basketbol ng Pilipinas (SBP), the national sport association for basketball in the Philippines, and served as its first president for two consecutive terms (2007 to 2016).