Usually means: Paid less than deserved value.
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We found 3 dictionaries that define the word undercompensated:

General (3 matching dictionaries)
  1. undercompensated: Wordnik
  2. undercompensated: Wiktionary
  3. undercompensated: Dictionary.com

Definitions from Wiktionary (undercompensated)

adjective:  Insufficiently compensated

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