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Besides the absence of nucleus in prokaryotes, the lower level of cell compartmentalization is the main difference compared to eukaryotes. In prokaryote cells the ribosomes are scattered in the cytoplasm, so it is correct to say that the protein synthesis in prokaryotes takes place in the cytoplasm. In eukaryotes the ribosomes also reside in the cytoplasm, but could be also found bound to the endoplasmic reticulum (ER). The membranes of the endoplasmic reticulum form a complex and continuous network in the inner core of the cytoplasm and is both to the outer membrane of the nucleus and with the plasma membrane.
In prokaryotes (bacteria), translation occurs in the cytoplasm, where the large and small subunits of the ribosome bind to the mRNA. In eukaryotes, translation occurs in the cytosol or across the membrane of the endoplasmic reticulum in a process called co-translational translocation.