As far as rankings go there isn't as much separation of the schools as in the U.S. The schools are all really good. U of T and McGill are always the standouts on the top but only because they have international reputations. UBC and Uvic seem to be over rated by people outside of Canada. They aren't really above the Ontario schools except for a negligible difference in admission numbers because they can be more selective as they are the only schools in that region and everyone wants to live in vancouver. The flipside of that is that the vancouver market is saturated with students and the pay is lower than Toronto.
Basically ranking Canadian schools is a useless endeavour and employment is based more on grades than what school you come from. For example if you graduate at the top of your class from Manitoba Law which is generally known as the easiest school to get into, you will have a MUCH better chance of finding a job on Bay street than if you were to graduate near the bottom of the class (or even the bottom third) at University of Toronto.