Amelia Sedley, of good family, and Rebecca Sharp, an orphan, leave Miss Pinkerton's academy on Chiswick Mall to live out their lives in Vanity Fair — the world of social climbing and search for wealth. Amelia does not esteem the values of Vanity Fair; Rebecca cares for nothing else.
Rebecca first attempts to enter the sacred domain of Vanity Fair by inducing Joseph Sedley, Amelia's brother, to marry her. George Osborne, however, foils this plan; he intends to marry Amelia and does not want a governess for a sister-in-law. Rebecca takes a position as governess at Queen's Crawley, and marries Rawdon Crawley, second son of Sir Pitt Crawley. Because of his marriage, Rawdon's rich aunt disinherits him.
First introduced as a friend of George Osborne, William Dobbin becomes the instrument for getting George to marry Amelia, after George's father has forbidden the marriage on account of the Sedley's loss of fortune. Because of George's marriage, old Osborne disinherits him. Both young couples endeavor to live without sufficient funds. George dies at Waterloo. Amelia would have starved but for William Dobbin's anonymous contribution to her welfare. Joseph goes back to his post in India, claiming such valor at Waterloo that he earns the nickname "Waterloo Sedley." Actually he fled at the sound of the cannon. Both Rebecca and Amelia give birth to sons.
Rebecca claims she will make Rawdon's fortune, but actually she hides much of her loot, obtained from admiring gentlemen. When she becomes the favorite of the great Lord Steyne, she accumulates both money and diamonds. In the meantime innocent Rawdon draws closer to Lady Jane, wife of Rawdon's older brother, Pitt, who has inherited from the rich aunt.
