Abstract: The present invention describes an imbalance compensation element featuring spring arms for fixing onto a shaft, and that grooves in which an anaerobic adhesive can distribute itself for fixing the imbalance compensation element on a motor shaft. One embodiment includes a pump with such an imbalance compensation element. In a method for balancing such electric pumps, the axial and radial oscillation accelerations as well as the oscillation angular position of a running pump are measured. In accordance with these measurements and the balance class and balance angle values ascertained therefrom, an imbalance compensation element is fixed on the shaft. Through this invention the time and cost required for balancing pumps driven by electric motors can be reduced and the acoustic emissions can be distinctly reduced when such a pump is installed on a housing.