Hey,
If the bass is loud enough that the scope of your fader covers your needs after compression then you don't really need to use makeup gain.
Not that likely but if your compressor is before another plugin which is input level dependent, like another compressor or a gate, you'd use the makeup gain to keep all the in and out levels where you need them.
Alternatively you could just adjust the threshold or input gain on that next plugin.
Thinking about it, you might also use makeup gain if you have pre-fader sends that you don't want to mess up.
If you just used the fader to compensate in that instance, your aux tracks would get a lesser signal because of the compression and your dry track would be louder because you've pushed the fader up.
So yeah...a few things to consider but generally, for me, the answer is no.