It depends on the kick used. I often use a specific compressor on the kick (i dont compress the bassline at all) and a multi compressor on the master aux. There's no RIGHT answer, it's purely subjective and you should try some things and see what you like best for your song!

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Depending on the genre you're working in, your Kicks and Basses are going to benefit from WIDELY different compression methods. In terms of trance, Kicks will generally benefit from a faster attack, hard knee, and a gain reduction of up to -15db. Setting the release relatively short will result in the "Gain Pumping" that you expect. The same methods applied to a Bass timbre will sound a little odd. On a more technical note, combining the Kick and Basslines prior to compression will result in a lower incidence of "Excursion". The punchy impact of the kick drum is produced by the kick moving the speaker further than any other wave in the mix. When you compress additional elements along with the kick, the distance between the peaks of the kicks, and the relative height of the other waves is reduced, effectively lowering the amount of speaker movement caused by the kick, causing the kick to lose a great deal of the "Punch".

I would suggest that you compress the kick and bass separately...then depending on the type of bassline you could sidechain the bassline to the kick so it sort of ducks out of the way when the kick is present...its a cool method that can even bring new life to your bassline.