Brantley Foster (Michael J. Fox) is a recent graduate of Kansas State University who moves to New York City where he has landed a job as a financier. Upon arriving, he discovers that the company for which he is supposed to work has been taken over by a rival corporation. As a result, Brantley is laid off before he even starts working.
After several unsuccessful attempts to get another job, mostly because he is either overqualified or underqualified and has little experience, Brantley ends up working in the mailroom of the Pemrose Corporation, which is directed by his uncle, Howard Prescott (Richard Jordan), the CEO. Pemrose was founded by Howard's father-in-law; Howard received presidency of the company by marrying his boss's daughter, Vera Pemrose (Margaret Whitton).
Upon inspecting company reports, Brantley realizes that Howard and most of his fellow "suits" (executives) are making ineffective or detrimental decisions. After Brantley notices an empty office in the building due to one of Howard's frequent firings, he uses his access to the mailroom and his understanding of company processes to create the identity of Carlton Whitfield, a new executive. Brantley then assumes this role.
While handling two jobs (switching between casual wear and business suits in the elevator), Brantley also falls head-over-heels for Christy Wills (Helen Slater), a fellow financial wizard who recently graduated from Harvard. Brantley meets Vera after driving her home in a company limo (at his employer's request). Vera persuades Brantley to stay for a swim and seduces him by stripping off his swimsuit and having an underwater kiss before she rips off her swimsuit and ultimately swims naked with him. Upon seeing Howard arriving, Brantley and Vera realize they are related (albeit not by blood). Brantley then gets changed as fast as he can and leaves the mansion without being seen by Howard.
Howard, without Brantley's knowledge, is having an affair with Christy. When Howard asks her to spy on Carlton Whitfield, Christy falls head-over-heels for "Whitfield", not knowing he is actually Brantley. The Pemrose Corporation is preparing to merge with the infamous Davenport Corporation. Howard, unaware that Whitfield and Brantley are one and the same person, suspects "Whitfield" is a spy for corporate raider Donald Davenport (Fred Gwynne).
In the end, Brantley and Vera raise enough cash, bonds, and stocks to wrest ownership of the Pemrose Corporation from Howard, and to proceed with a hostile takeover bid of Davenport's Corporation. Vera, already contemptuous of Howard for his counter-productive business practices, which were driving her father's empire into the ground, learns that Howard has been cheating on her to boot. She promptly replaces him with Brantley, with Jean, Christy and Melrose at his side. While security guards escort Howard and his aide, Art Thomas (Gerry Bamman), from the Pemrose Building, Brantley and Christy start planning their future together, personal as well as professional.
Which corporation do Brantley and his uncle work for?
Pemrose Corporation