This question is borne mainly out of this statement given on the Memory Alpha page for Bajoran ranks:
The Star Trek Encyclopedia (2nd ed.), proposes that the ranks below major were captain, lieutenant, lieutenant junior grade, and ensign. Source - Memory Alpha Wiki Contributors.
Since there was an official Chain of Command on Deep Space Nine which involved Bajoran officers taking precedence over Starfleet officers (Kira being the most obvious example - being immediately in command after Captain Sisko) it would imply that some compatibility between Bajoran and Starfleet ranks would exist.
Since the first three ranks of both organizations were the same (ensign, lieutenant junior grade, and lieutenant), continuing the analogy would imply that 'Captain' on Bajor would be equal to Starfleet's 'Lieutenant Commander,' 'Major' would be equal to 'Commander,' and 'Colonel' would be equal to 'Captain' (this is also partly supported by the fact that in many real life militias Colonel is the last non-general rank - a distinction admirals hold in Starfleet, unless the 'Commodore' rank is canonical, which would likely have a Bajoran counterpart in 'Brigadier').
However, there are two discrepancies that appear to contradict this analogy:
Colonel Kira is only given a field commission of Commander near the end of season 7.
This system would imply that Sisko and Kira are the same rank throughout large swatches of the show - Seasons 1-3 and Season 7, which would likely cause issues with the power structure of the station, ie. Kira would technically be able to give orders to Sisko.
Does there exist any official (through the showrunners or 'commonly-agreed-upon') correspondence between the two ranks?