Is a promotion an extrinsic reward?

Is a promotion an extrinsic reward?
An extrinsic reward is given when someone makes you do something by giving you food, or something that is tangible and visible to others. so it is possible that can be believed to be an extrinsic reward. Some people believe employees will be their most creative when they feel motivated primarily by the interest, enjoyment, satisfaction, and challenge of the work itself, and not by external pressures or inducements. And by offering a promotion, one will do better and possibly making you do it.