Every commodity firm has an org chart. It tells you who reports to whom and what the official structure looks like. It does not tell you how decisions actually get made, whose opinion carries weight in a room, or what the unwritten rules are that govern how people behave when the stakes are real.

The gap between the org chart and the actual power structure is where most early-career professionals get surprised. Learning to read that gap quickly is one of the most transferable skills in the industry.