The term "ранг" is appropriate mainly for the military and some government officials.
The term "звание" is used more broadly, but is also limited in application.
In fact, each sphere has its own analogue of the term "ранг". For medical professionals it's "[медицинская] категория", to workers it's "[квалификационный] разряд", etc.
However, the term "ранг" can be used in a figurative sense. In that case it can be attributed to a very wide range of applications. And in some cases, you can simply say "положениие в [корпоративной] иерархии".
Also, do not forget about the term "должность". This is not the same as "ранг", because the relationship between "ранг" and "занимаемая должность" in many areas is only indirect.
But sometimes "должность" may be the most appropriate in the discussion about promotion/demotion on the corporate ladder.