Pandey started out his Bollywood career in 1987, with the film Aag Hi Aag opposite Neelam Kothari, Pandey shot to the spotlight with his role as Munna?s (Anil Kapoor) friend in the movie Tezaab in 1988. This was the first big break for Pandey as he received a Filmfare award nomination for the best supporting actor for his performance in the film. Since then he has appeared in many films with mixed success throughout the late 1980s and 1990s. Most of his films where he had the leading role did not fare well at the box office except Mitti Aur Sona (1989) to some extent. Subsequently Pandey starred alongside other male lead actors such as Govinda, Sunny Deol, Sanjay Dutt and Jeetendra.
The advent of the 90s saw new chocolate boys such as Aamir Khan, Salman Khan, Rahul Roy and Shahrukh Khan come in as "romantic heroes" while Ajay Devgn, Akshay Kumar and Sunil Shetty grabbed the "action hero" roles. Pandey found it difficult to slot himself in either category. In 1993, he starred as the second lead to Govinda in the David Dhawan directed blockbuster Aankhen (1993). Unfortunately, the credit of the movie?s success went to Govinda and Kader Khan. Pandey could not capitalize on the mega success of the film, "Aankhen". Gradually since the mid 90s, Pandey?s career began to fade.
Before taking a hiatus, his last Bollywood release was Teesra Kaun, then he moved to Bangladeshi Cinema coming back sporadically to play supporting roles in films like Bollywood with D (film), Qayamat: City Under Threat, Elaan, Don: The Chase Begins Again, Darwaza Bandh Rakho and Apna Sapna Money Money.
His recent performance was as "Aakhiri Pasta" in the 2010 comedy hit Housefull where he was lauded by critics and fans for his hilarious performance. He reprised his role as Akhri Pasta in the sequel Housefull 2 in 2012.