Here is the list of titles,ranks and subranks of the -{GoF}- Hierachy.
Sith Lord and Jedi Master: The Sith Lord title is signafied by members of the sith wearing the title "Darth" these are leading members of the Sith faction, The Jedi Master title signafied by members of the jedi wearing the title "Master" these leading members of the Jedi faction. these are the highest ranks obtainable and thus are the members of the Guardian Council.
Sith Warrior |SW| and Jedi Knight |JK|: both equal in power but both focusing their energies on different aspects of the force, there is subranks in these two ranks of jedi and sith, for the sith warrior there is Sith Assassin [SA] and for jedi knight the Jedi Shadow [JS] each focusing on tactical combat.
Sith Apprentice |SA| and Jedi Padawan |JP|: are students of -{GoF}- under one master (Lord,Master,Darth or Knight) after they complete their training they will move up to the next level as either a Sith Warrior or Jedi Knight.
Sith Acolyte |A| and Jedi Hopeful |JH|: like the Apprentices and Padawan learnings but not under one master's tutelage and learn through the Guardian Academy.
Sith Minion |SM| and Jedi initiate |JI|: The newly joined -{GoF}- members after choosing his or her path, they usually stick to this rank until either a capable teacher can take them as a student or join the Acolytes and Hopefuls in the Guardian Academy.