Firstly, I have two compasses (well actually more than that but I only use 2 on treks). One is a Suunto, which uses the ‘Mils’ scale (I believe NATO issue), while the other is a Recta which uses the ‘degrees’ scale. This latter compass comes with a declination adjustment, but I haven’t used this since I bought the compass as declination has not in recent years been particularly significant. Declination is the difference between true north and magnetic north, and is currently around 3 degrees, which, bearing in mind that keeping on a straight line when walking across moorland or fells is pretty difficult, isn’t going to put you significantly off track over the relatively short distance a walker travels between known navigation points.
I’d also give serious consideration to the Silva compasses. I don’t own one but my walking buddy does. You should be able to get one or all of these makes from most serious outdoor shops.
Considerations are:
Get one with a reasonable length plate as it makes the direction arrow clearer.
Get one with plenty of grip on the dial. Some have quite chunky dials, which is very useful when your hands are wet or you’re wearing gloves.
If it’s got an air bubble - it shouldn’t have.
I like the Romer scales. These are the scales on the face of the plate that help give more accuracy to OS grid references.
Many compasses also have a magnifying lens, which can be extremely useful when looking at part of a map which is a little ‘crowded’. Some also have stencils so that you can mark your map but I’ve never really found a use for them.
If money is no object, then think about a sighting compass, as they are useful for taking bearings. I don’t have one because I also have a Suunto Vector ‘watch’ which is excellent for taking bearings.
S.