Ferrazzi graduated with a BA degree from Yale University, where he became a member of the Sigma Chi Fraternity; he was one of that chapter's founders. He then received a MBA from Harvard Business School.

Ferrazzi started his career as an early leader in the quality movement as the youngest examiner of the Malcolm Baldrige National Quality Award. He was Chief Marketing Officer of Deloitte Consulting.

He was the youngest Chief Marketing Officer with a Fortune 500 company when he worked for Starwood Hotels & Resorts Worldwide before being recruited as Chief Executive Officer for YaYa Media, an interactive entertainment consultancy, which popularized the term advergaming.

Ferrazzi founded and chairs Big Task Weekend, a foundation focused on putting the most important companies in the world to work together to both solve important social issues along with increasing their shareholder value.

In 2005, Ferrazzi authored the book Never Eat Alone, which discusses the need for networking and human relationships as a major part of any strategy for success in today's world.

Ferrazzi's newest book, Who's Got Your Back: The Breakthrough Program to Build Deep, Trusting Relationships That Create Success ... and Won't Let You Fail is a guide to mastering four "mindsets" that will allow readers to develop mutually beneficial "lifeline relationships" in the workplace as well as their personal lives.