In this study, a recalled experience of having warm and responsive parents, degree of endorsement of a generalized just world belief, and reported adolescent experiences of injustice were tested in a structural equation model for fit with predicting compassion in a sample of 201 self-identified counseling students. The participants were invited by advertisements on social media and emails to counseling programs and a counselor education listserv. All variables were measured via survey. Structural equation model results found an acceptable fitting model, χ² (113) = 317.77, p < 0.001, RMSEA = 0.095; CFI = 0.91; PNFI = 0.72. In the model, injustice experiences and a generalized just world belief were found to be significant negative predictors of compassion. Recalled parenting was not supported to be a significant predictor. Last, injustice experiences moderated the relationship between the just world belief and compassion. When a high level of injustice experiences was reported, the relationship between compassion and the just world belief was stronger (β = −0.43, t (200) = −6.12, p < 0.05) than when a low level of injustice experiences was reported, (β = −0.20, t (200) = −2.78, p < 0.05).