The ruling party - if you are not part of Linz, or may be recently Vienna labs, where like CEO says holds the critical mass, forget about your career growth.
There are efforts to roll out a common promotion and compensation program. But this does not affect you unless you are at a high-growing lab like Linz or Vienna.
If you are working from the US, then promotions are non-existent. There are many hard-working, focused, and talented (compared to many Europeans) who are stuck without promotions.