‘Classification’ and ‘ranking’ are tools for comparing colleges and universities, albeit for different purposes. Although ‘classification’ focuses on identifying similarities rather than ordering institutions, it is closely intertwined with ‘ranking’, whether directly through its content, structure, and procedures, or indirectly through the ways it is used and understood by the wider community of users (e.g., researchers, policymakers, institutional leaders, etc.). For this reason, many of the standards, protocols, and best practices established for ranking systems apply as well to the case of classification. This paper examines the interplay between ‘classification’ and ‘ranking’ in some detail, and applies the Berlin Principles on Ranking of Higher Education Institutions which were adopted in May 2006 to the case of classification, focusing on the Carnegie Classification of Institutions of Higher Education.