Wade was born in Adelaide, South Australia and spent her early life on a property in the northeast of the state. She lived the typical country girl's life, it is said. Her family moved when she was seven to Thistle Island in Spencer Gulf where she first became interested in geology. She studied geology and biology at the University of Adelaide, and in 1954 completed a Bachelor of Science with Honors in Micropalaeontology. Wade worked as a Senior Demonstrator at the University, while completing her Doctorate of Philosophy in 1959. Studying remotely via correspondence, Wade was sent on scholarship to the Wilderness School in Adelaide as a boarder from the age of 13. After she finished school, she undertook a Bachelor of Science in Geology at the University of Adelaide before graduating in 1954. Wade worked as a demonstrator while she undertook her PhD on tertiary aged microfossils, under the supervision of Professor Martin Glaessner.