In 1946, navy veteran David Alfred Eaton returned home from the war to Philadelphia. He finds his mother, Martha Eaton, driven to alcoholism by years of neglect and abuse from her husband, Samuel Eaton, owner of a prestigious iron and steel company. Having withdrawn from his family after the death of his firstborn son thirteen years earlier, Samuel Eaton harbors resentment toward David Alfred Eaton. As a result, Alfred turns his back on the family business and strikes out on his own with his closest friend Lex Porter.
While attending a party at the estate of Lex's wealthy uncle, Mary St. John, the daughter of a wealthy family, is dazzled by Alfred. She is drawn into a relationship with Alfred and defies her parents by breaking her secret engagement to Dr. Jim Roper. After Alfred's father falls ill, Alfred shuns the family business once again to start an aviation company with Lex.
On his wedding day, Alfred receives word that his father has died. With his uncle's money, Lex funds the Nassau Aircraft Corporation with Alfred, but Alfred becomes impatient when Lex shows more interest in perfecting aircraft designs than in selling aircraft.
One wintry day, Alfred and Mary are driving home from a party when they see a little boy fall through the thin ice of a frozen pond. Alfred plunges into the icy waters to save him. The boy's grandfather, James Duncan MacHardie, the most famous financier in America, invites Alfred and Mary to dinner. MacHardie offers Alfred a job in his investment firm.
MacHardie's obsession with outdoing his father drives Alfred to travel the country for MacHardie, leaving Mary alone for months at a time. Lonely and self-pitying, Mary begins to resent Alfred's constant absences. MacHardie's son-in-law, Creighton Duffy, suggests that Alfred spend two months in rural Pennsylvania checking out the business aptitude and prospects of Ralph Benziger, a prosperous coal mine owner.
After an ugly argument with his wife, Alfred goes to Pennsylvania. Invited to dinner at Benziger's home, he meets Natalie Benziger, the man's beautiful and compassionate daughter. Feeling lonely, Alfred impetuously invites Natalie on a date, but she refuses because he is married. However, she later reconsiders and meets him at a drive-in movie the following evening.
Alfred confides to Natalie that her warmth and generosity have made him realize what a sham his marriage is. They share a kiss, but Natalie still believes they must end this relationship before it goes any further.
Upon returning to New York, Alfred is immediately summoned to MacHardie's office. He is informed that Mary has been having an affair with Dr. Jim Roper. However, the archly conservative MacHardie warns Alfred that he will not tolerate divorce within his firm. MacHardie also assigns him to analyze the Nassau Aircraft's business practices.
One night while leaving a party with his wife, Alfred unexpectedly encounters Natalie in front of the hotel. Sensing that Alfred and Natalie are intimate, Mary vindictively calls Roper and makes a date with him. Alfred goes to meet Natalie and tells her that, although he is estranged from Mary, his career prevents him from requesting a divorce.
Alfred begins to investigate Nassau Aircraft's business practices. Duffy, who has become unethically involved with Nassau and will reap a financial windfall if MacHardie invests in the company, threatens to blackmail Alfred unless he suppresses his report.
Alfred and Natalie meet for a tryst in a hotel room. Photographers hired by Duffy burst in and captured their indiscretion. Natalie, uncertain if Alfred's main concern is to save her reputation or his career, decides to leave.
Mary suggests to her husband that they share an open marriage, seeing whomever they please. The scandalous photos are delivered to Alfred at his home.
At work the next day, MacHardie ushers in Mary to celebrate Alfred's surprise promotion to partner. Alfred rises and denounces MacHardie's hypocrisy of placing success and social position above personal responsibility and happiness. Alfred then issues the uncensored report exposing Duffy's duplicity and walks out. Mary runs after him, but it is too late. He leaves her for good and returns to Natalie's home for a new life -- with his wedding ring now missing from his finger.
