There are a number of different magical systems, that number varying depending who you ask. See Elven Magic, Dwarven Magic.

There are also several ranks of mage.

Mages-minor can perform simple magic, make very basic magical devices, and operate more complex ones. A mage-minor is permitted to wear a bangle of a material that indicates the kind of magic he or she specializes in.

A full mage, who can make complex magical devices and perform advanced magic, may wear a bracelet, again of different materials depending on the type of magic.

A senior mage's bracelet is edged in gold. "Senior mage" is a rank conferred by the Council of Mages once they are satisfied that the mage concerned is making a notable contribution to magic or has shown unusual skill.

A High Mage wears a wider armlet or cuff. High Mages gain their standing through a combination of demonstrated skill and political seniority.

The Master-Mage is the chief magical educator of a realm.