Valedictorian is an academic title typically conferred upon the highest ranked student within the graduating class of an educational institution. The term is an anglicized derivation of the Latin vale dicere ("to say farewell"), historically rooted in the valedictorian's traditional role as the final speaker at the graduation ceremony. The valedictory address is generally considered a final farewell to classmates, before they disperse as a collective group in order to pursue their individual paths after graduating. The title of class valedictorian is common in educational institutions in the United States and Canada, while its equivalent in Australia, New Zealand and Scotland is dux.
and the Sali one:-
In the United States and Canada, the title of salutatorian is given to the second-highest graduate of the entire graduating class of an educational institution. This honor is traditionally based on grades and overall GPA, but consideration is also often given to other factors such as extracurricular activities. (Princeton University chooses a "Latin salutatorian" based on the ability to write and deliver a speech to the audience in that language; thus, the speaker is typically a Classics major.) The title comes from the salutatorian's traditional role as the first speaker at the graduation ceremony, delivering the salutatory address. In the high school setting, a salutatorian may also be asked to speak about the past lives of the current graduating class or to deliver an invocation or benediction. In some instances, the Salutatorian may even deliver an introduction for the Valedictorian.
link, as they spout quite a bit more about the Vali one:
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