There's a pretty structured career progression and performance program which is great. The program itself can be really hard and competitive though.
The entire engineering org has guides for each level and the steps needed to be put forward for a promotion. Employees are encouraged to put forward promotion packs and actively speak with their manager to set goals for promotion. My manager works with me and my feature leads to ensure I have the opportunities I need to grow and prepare for the next level.
My manager is excellent at his job, he gives me various opportunities that help me level up each time, eventually leading to my promotion. I'm going for promotion next cycle (which will be a year after I joined). There are plenty of meaningful work you can do at Atlassian; something that fits your work style and interests; if you meet the right team the promotion process will be very smooth.