What does the phrase 'fair compensation' mean to you, and how do you think it should be determined?

Fair compensation means getting payed an amount equal to what the work you do deserves. I am no expert in economics and don't know how I would calculate that. I'd say that an investigation similar to those conducted by a health inspector could be beneficial. The person would simply come, take into consideration how difficult of work a job is, calculate how much the company can afford to pay them, and help to ensure wages stay fair.