The Universal Law of Compensation doesn't refer to the word in the way we've come to think of it. Typically when we think of compensation we think of salary/wages paid for a job completed.
When it comes to understanding the universal laws or constants, compensation has a somewhat different meaning.
The Law of Compensation states that you get back what you give to others. This law is stated in many scriptures and ideas you are likely already familiar with "do unto others as you would have done to you" or the famous Gahndi saying "be the change you wish to see in the world".
It is a basic understanding that what you project is returned to you. Like attracts like. If most of what you send out into the world is positive, most of what you receive in return will also be positive. If you work to be a strong, nurturing, and supportive person for others, chances are when you are in need of support yourself you will have this same strength and support returned to you.
The biggest lesson of this law - give freely to others what you want to see yourself.
Some people misinterpret this, especially when it comes to things like money. Does this law mean that to receive abundance in the form of money - you should give away the money/resources you have? No. What you should do however, is give away your generosity freely. Give of your time, your talents, your wisdom, love etc. and give it freely to all who need it. In return you'll find that abundance and generosity find their way back to you in the time and form you need.
Unfortunately, this law works in reverse as well. Have you heard the phrase "misery loves company"? This means that people who are angry, hurting, feeling negative send out the energy vibrations of hurt, anger, etc. and in return they attract more people or circumstances that return to them what they are projecting. It can certainly be a vicious circle at times.
An example of this - think back to a day where first thing in the morning something went wrong and it really made you mad or anxious. Did you find the rest of the day kind of spiraled? It's because the energy you were projecting with such passion was being reflected back to you. Typically how we start our day will be very close to how we finish it.
For this reason, a good habit to get into is focusing on gratitude and abundance first thing in the morning. Really get into it and let yourself feel it deeply with every fiber of your being. When you do this, you'll find that this positive, focused energy is returned to you throughout the day. You'll be able to handle any challenges with greater ease and everything will flow more smoothly. You'll also be a positive influence on others - because smiles and joy are contagious too :). Have you ever been around someone genuinely happy and smiling - or someone who was laughing and not felt the urge to smile yourself?
Be what you want to see - it will come back to you.
The Law of Compensation.