Pangilinan is a self-made billionaire, born to a bank messenger father who eventually retired as bank president. Pangilinan went to school at the Jesuit-run Ateneo de Manila University where he majored in Economics and the Wharton School of Finance & Commerce where he got his masters degree in Business Administration, both on scholarships. Pangilinan made his name in Hong Kong where he worked in an investment bank.
Si Pangilinan ay nag-aral sa pinatatakbo ng mga Heswita na Ateneo de Manila University kung saan siya ay nagmedyor sa Economics at sa Wharton School of Finance and Commerce kung saan siya ay nakakuha ng masters degree sa Business Administration, na parehong mula sa scholarship.Gumawa ng pangalan si Pangilinan sa Hong Kong kung saan nagtrabaho siya sa isang investment bank.