Compressor pedals are most often used for specific styles, like "chicken pickin', and IME not typical on most boards. My feeling is that they can make you lazy about developing good technique if you just stick one on to even out what you are hearing.
A good overdrive or distortion pedal will do some compression, attempting to emulate the natural compression that occurs in an overdriven/distorted (analog) amplifier. You can also get this in modern digital amplifiers if done well, and your own amp may also be supplying some compression with those built-in FX.
I'd second considering a good, entry multi-FX pedal. It should have tap tempo, e.g. for delay, tremolo, et al, and an expression pedal for the wah or any other FX that can use it - even use as a volume pedal for swells and the like. A good one can always find a place on your board. (And save you a lot of money!)
And, unless you are playing out and gigging, a collection of pedals is something that can be well emulated in a DAW if you do recording.
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"I know in the morning that it's gonna be good, when I stick out my elbows and they don't bump wood." - Bill Kirchen
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