He's somewhere between the top five and the top ten. Let's be serious - after Saban and Dabo, it's a big mess for the next ten or fifteen coaches. I don't think you can point to anyone outside of those two as being definitely better than Franklin...but I'm also not sure if you could point to Franklin as being definitively better than a bunch of other guys, either.
I think Franklin's very much in the mix with Smart, Riley, Kelly (Brian), Day, Fisher, and Mullen. But it's much more of a "these guys are all in the same band of coaches," and I'm not sure if they're really separated enough from each other to rank them. But I do think that all of those guys are at a very small level above the next tier of Harbaugh, Chryst, Cristobal, Shaw, Ferentz, Whittingham, and Fitzgerald. Then there are a bunch of guys who I have no idea about, and need a little more time to really put them in a tier - Mack Brown, Orgeron, Patterson, and Fleck.