The social ascent of the cunning Becky Sharp collides with the declining fortunes of the gentle Amelia Sedley against the backdrop of the Napoleonic Wars. Becky Sharp, an impoverished orphan, utilizes her intellect and social maneuvering to climb the rigid hierarchy of 19th-century English society. Her objective is to secure wealth and status, often at the expense of those around her, including her naive friend Amelia Sedley. The narrative employs a third-person omniscient narrator who frequently interrupts the action to offer moral commentary on the characters' behaviors. The world is defined by strict class boundaries, financial instability, and the looming threat of continental conflict.

Discussion often centers on the complexity of Becky Sharp as an anti-heroine who defies the traditional expectations of Victorian femininity. Readers frequently highlight the sharpness of Thackeray's wit and his ability to maintain a cynical yet engaging tone throughout the lengthy narrative. Critics often point to the balance between the intimate domestic drama and the broader historical context of the Napoleonic era as a defining feature of the work. The effectiveness of the world-building is frequently noted for its biting accuracy regarding the vanity and greed inherent in the social climbing of the period. Readers often find the narrator's intrusive presence to be a unique stylistic choice that forces them to constantly re-evaluate their judgment of the characters.