The ranking menu is divided in two tabs, one for the players and one for the teams.
In the teams' tab you will find two sections; a local ranking for the team, with teams from the country you selected when creating it, and a global ranking, with teams from all around the world.
The teams' ranking will be determined by the sum of all the team members' levels. If there are two teams with the same level, it will depend on the number of medals each team member has.