In the 1960s, three ambitious women navigate the cutthroat world of show business and high society. Anne Welles leaves her small town in New England to seek a fresh start in New York City, where she lands a job at a prestigious theatrical agency. There, she befriends Neely O’Hara, an aspiring singer with immense talent and a volatile personality, and Jennifer North, a beautiful but insecure actress who struggles to be taken seriously beyond her looks. As their careers progress, each woman faces pressures and temptations, including dependency on "dolls"—a slang term for pills used to cope with their demanding lives.

The women's lives intertwine as they experience the highs of success and the lows of personal turmoil. Anne becomes entangled in a complicated romance with Lyon Burke, a charismatic but noncommittal attorney. Neely's rising fame brings with it an insatiable appetite for fame and self-destruction, while Jennifer battles her own private tragedies despite her outwardly glamorous life. Each woman must confront her inner demons and make critical choices in search of happiness and fulfillment. The final act delves into how their decisions shape their destinies, offering a vivid portrayal of the sacrifices and costs associated with chasing dreams in an unforgiving industry.