Bill Wood was born in Wilkesboro, North Carolina. His first musical experience was with the Sanctified Church Choir and with various gospel groups. His family moved him to Detroit when he was 10 years old. Mr. Wood began playing bass while a junior in high school, and when in high school he also took up the trumpet.
After high school he attended the Detroit Institute of Musical Art, during which time he studied bass with Gaston Brohan and John Matthews of the Detroit Symphony. At the Institute he studies harmony, theory, and other academic subjects while concentrating on the bass and playing with various Detroit-based jazz groups. He was a member of a quartet from the University of Detroit which won the 1959 Intercollegiate Jazz Festival held at the University of Notre Dame. He was chosen the best on his instrument from among collegiate entries from all over the counrty.