There are other forms of compensation. I get enjoyment from building things, for example. It's worth remembering that labor is a transaction, and to treat yourself as a professional and a person worthy of self-respect, but if my employer creates a good environment for me and gives me interesting projects to work on, I will accept that as one form of intangible compensation. If two employers offer the same compensation but one has shitty projects and a terrible work environment, I'm taking the more pleasant one every time. Based on your position I should just flip a coin.

EDIT: Case in point, economics has an imaginary unit of value (the util), because there are forms of value other than income.