A fiber optic gyroscope (FOG) includes a sensing coil with a particular magnetic sensitivity magnitude and direction with respect to the geometric axis of the sensing coil. The FOG also includes a plurality of magnetic compensators. Each magnetic compensator is fabricated so as to have a particular magnetic sensitivity magnitude and direction, the magnitude being comparable to that of the sensing coil, with large tolerances relative to the magnitude and direction. The compensators are positioned relative to one another and to the sensing coil such that the combined magnetic sensitivities of the compensators cancel the magnetic sensitivity of the sensing coil.