Undine Spragg, a young woman from the Midwest, arrives in New York City with a singular, ruthless ambition to ascend the ranks of high society. Undine navigates the rigid social hierarchies of the early twentieth century, utilizing her beauty and her father's financial resources to secure advantageous marriages. She faces opposition from established socialites who view her as an interloper and from the consequences of her own impulsive, mercenary decisions. The narrative follows her through a series of marriages and social maneuvers, highlighting the friction between her relentless desire for status and the shifting values of the American elite. The novel employs a third-person omniscient perspective to dissect the motivations of its protagonist and the environment she inhabits.

Readers and critics frequently identify this work as one of Wharton's most biting critiques of the American social landscape. Discussion often centers on the polarizing nature of Undine Spragg, whose lack of moral compass serves as a vehicle for the author's exploration of greed and social ambition. Critics highlight the novel's pacing as deliberate and methodical, allowing for a deep immersion into the protagonist's calculated rise and fall. The atmosphere is noted for its cold, clinical precision, which effectively mirrors the ruthless environment of the time. Many readers appreciate the balance between the character's personal trajectory and the broader commentary on the era's shifting cultural values.