The main similarity between extrinsic rewards and intrinsic rewards is that they both satisfy so-called higher order needs such as survival and security.

Extrinsic Rewards

Incentives provided by an external source, such as an employer, to motivate employees, which can include wages, bonuses, and other tangible benefits.

Intrinsic Rewards

Satisfaction a person receives from the process or act of performing a particular activity, rather than from any external rewards.

Higher Order Needs

Psychological desires that go beyond basic physical needs, such as the need for self-esteem, belonging, and self-actualization.