Compile time is the time during which the compiler checks the errors of the program and trace out (display) errors if any. Compiling of a program is done using Alt+F9 in C and C++.
Run time (Execution time) is the time during which the compiler executes (runs) the program. Compiler executes the .exe file of program which is created after all the errors are removed. Execution of a program is done using Ctrl+F9 in C and C++.