I like managers that set up their team for big wins and them make sure they are treated accordingly, both humane work/life balance and with excellent pay. "Fair" pay is fine, but I'm striving to provide an exceptional value. So I think fair pay if I achieve that goal doesn't look like "competitive" or "market rate".
If you strive to 'provide exceptional value', but want to be compensated highly, then the you are not providing exceptional value. Perhaps it should be 'commensurate value'