Both nouns have to do with agreement, although, they differ in its degree. Firstly, compromise in this form can be either a noun or a verb. Compromise looks for a mutual agreement. Although, it satisfies only partially each party and both of them has to give up a part of their demands but it is a solution which can be accepted by either of them. It means to find an agreement in an argument through the means of communication. There are no winners or losers of a compromise. A compromise is acceptable if the aims of both parties are equally important and both sides have equal power. Consensus is a type of agreement where both parties work together in order to find a solution which satisfies the concerns of each of them. In a consensus, both parties win. As defined, it means the majority of agreement, a concord or harmony.
