Etymology
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compensate (v.)

1640s, "to be equivalent;" 1650s, "to counterbalance, make up for, give a substitute of equal value to," from Latin compensatus, past participle of compensare "to weigh one thing (against another)," thus, "to counterbalance," etymologically "to weigh together," from com "with, together" (see com-) + pensare, frequentative of pendere "to hang, cause to hang; weigh; pay" (from PIE root *(s)pen- "to draw, stretch, spin"). Meaning "to recompense, remunerate" is from 1814. The earlier verb in English was compense (late 14c.). Related: Compensated; compensating.

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Definitions of compensate

compensate (v.)
adjust for;
Synonyms: counterbalance / correct / make up / even out / even off / even up
compensate (v.)
make amends for; pay compensation for;
She was compensated for the loss of her arm in the accident
Synonyms: recompense / repair / indemnify
compensate (v.)
make up for shortcomings or a feeling of inferiority by exaggerating good qualities;
Synonyms: cover / overcompensate
compensate (v.)
make reparations or amends for;
Synonyms: right / redress / correct
compensate (v.)
do or give something to somebody in return;
Synonyms: pay / pay off / make up
compensate (v.)
make payment to; compensate;
Synonyms: recompense / remunerate
From wordnet.princeton.edu