Meaning of the word preferment in English

What does preferment mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

preferment

US /prɪˈfɜːrmənt/
UK /prɪˈfɜːmənt/

Noun

the action of promoting or being promoted to a higher position or status

Example:
His hard work earned him a rapid preferment within the company.
The bishop's preferment to archbishop was widely celebrated.