Phasor measurement units (PMUs) are important elements in power systems to monitor and know the real network condition. In order to regulate the performance of PMUs, the IEEE Std. C37.118.1 stablishes two classes—P and M, where the phasor estimation is carried out using a quadrature oscillator and a low-pass (LP) filter for modulation and demodulation, respectively. The LP filter plays the most important role since it determines the accuracy, response time and rejection capability of both harmonics and aliased signals. In this regard and by considering that the M-class filters are used for more accurate measurements, the IEEE Std. presents different M-class filters for different reporting rates (when a result is given). However, they can degrade their performance under frequency deviations if the LP frequency response is not properly considered. In this work, a unified model for magnitude compensation under frequency deviations for all the M-class filters is proposed, providing the necessary values of compensation to improve their performance. The model considers the magnitude response of the M-class filters for different reporting rates, a normalized frequency range based on frequency dilation and a fitted two-variable function. The effectiveness of the proposal is verified using both static and dynamic conditions for frequency deviations. Besides that, a real-time simulator to generate test signals is also used to validate the proposed methodology.