This post is one in a series on prominent company nicknames. See all 25, and share your thoughts and memories about Golden Slacks below in the comments.

There are many corporate nicknames that are used to either make fun of, shorten, or parody certain company names. But the nickname of "Golden Slacks" for Goldman Sachs Group Inc. (NYSE: GS) is perhaps the most appropriately assigned nickname in all of corporate America.

With the exception of a few years, and with the exception of 2007/2008 woes, investment bankers and brokers and traders on Wall Street have done far better financially than most jobs on Main Street. Goldman Sachs bankers are thought of as being the highest paid on Wall Street.

There are bucket shops, small single-office brokerage firms, small regional firms, larger second-tier brokerage and investment banking firms, and the prized bulge-bracket firms. Goldman Sachs defines the bulge-bracket firm on an exponential basis, although in some ways it is almost like a club. You can't just walk into an office with a few grand to open an account. Goldman may not have official minimums, but the thought has prevailed that if you don't have at least $5 million at the firm then you shouldn't expect your broker to call you.

Another issue making this "golden slacks" is that the investment banking operations tend to look for the more established and prestigious underwritings. That isn't exclusively the case, but the firm doesn't really hang out in the smaller deals where the smaller fees are the norm. They have very deep ranks in large investment banking and even still are active in infrastructure deals in the world of private equity or sovereign wealth investing, and they are even investing as a partner rather than just a facilitator.

If a college graduate can get into any firm of his/her choice, Goldman Sachs is likely the first choice. You aren't assured success as the firm tends to pare down the lowest performers each year, but if you survive you are likely to be among the higher paid brokers or traders on Wall Street. The fact that its stock has held up so well and that it has thrived after being short mortgages might even make you think they are invincible while almost every other big firms on Wall Street is vulnerable or deemed as teetering on the border of trouble. If they are not defining the name "golden slacks" then it's because money is going out of style.

Jon Ogg is partner in 247WallSt.com; he does not own securities in the companies he covers.