Out here in Waterloo, we have what's called IRS, also known as the Iron Ring Stag. IRS is held around the middle of February, immediately after the Iron Ring Ceremony (whereupon we undergo the Ritual of the Calling of an Engineer). Of course, now that women are actually included in engineering schools, IRS isn't actually a stag party anymore. It does remain one of the biggest parties in Engineering, and is always preceeded by more insanity than any one group of people should exhibit. Really, when a UW engineer refers to IRS, they're really talking about the entire day, which typically starts at about 7am and goes to 2am. And when we talk about graduation, we really mean IRS, since everything after doesn't matter.

Part of what makes IRS so important is that it is the day we finally receive our iron rings. What is this ring I speak of? Only the most expensive piece of jewellery most engineers will ever wear... a $40,000 hoop of steel worn on the little finger of the dominant hand, symbolizing our obligation to society. It is said that the rings were made from the steel girders of the failed Montreal bridge, passed on from generation to generation of engineers. Its placement on the working hand, and the resulting "clink" when doing most types of work, is to remind engineers of the duty of care they owe to the world when designing anything having an impact on people's safety. Whether this is true or not is uncertain, but it makes a great story!

Here's some additional info from www.ironring.ca:

The Ritual of the Calling of an Engineer has a history dating back to 1922, when seven past-presidents of the Engineering Institute of Canada attended a meeting in Montreal with other engineers. One of the speakers was civil engineer Professor Haultain of the University of Toronto. He felt that an organization was needed to bind all members of the engineering profession in Canada more closely together. He also felt that an obligation or statement of ethics to which a young graduate in engineering could subscribe should be developed. The seven past-presidents of the Engineering Institute of Canada were very receptive to this idea. Haultain wrote to Rudyard Kipling, who had made reference to the work of engineers in some of his poems and writings. He asked Kipling for his assistance in developing a suitably dignified obligation and ceremony for its undertaking. Kipling was very enthusiastic in his response and shortly produced both an obligation and a ceremony formally entitled "The Ritual of the Calling of an Engineer."

The object of the Ritual can be stated as follows: The Ritual of the Calling of an Engineer has been instituted with the simple end of directing the newly qualified engineer toward a consciousness of the profession and its social significance and indicating to the more experienced engineer their responsibilities in welcoming and supporting the newer engineers when they are ready to enter the profession.

The Ritual is administered by a body called The Corporation of the Seven Wardens Inc./Société des Sept Gardiens inc. The seven past-presidents of the Engineering Institute of Canada in 1922 were the original seven Wardens. The Corporation is responsible for administering and maintaining the Ritual and in order to do so creates Camps in various locations in Canada. The Ritual is not connected with any university or any engineering organization; the Corporation is an entirely independent body. The Ritual has been copyrighted in Canada and in the United States.

The Iron Ring has been registered and may be worn on the little finger of the working hand by any engineer who has been obligated at an authorized ceremony of the Ritual of the Calling of the Engineer. The ring symbolizes the pride which engineers have in their profession, while simultaneously reminding them of their humility. The ring serves as a reminder to the engineer and others of the engineer's obligation to live by a high standard of professional conduct. It is not a symbol of qualification as an engineer - this is determined by the provincial and territorial licensing bodies.

(Original text by Camp No. 1, Toronto)
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