Nicolay \n(i)-co-lay\ as a boy's name is a variant of Nicholas (Greek), and the meaning of Nicolay is "people of victory".
The baby name Nicolay sounds like Nikolay, Nicolao, Nicolai and Nicola. Other similar baby names are Nicolas, Nikolas, Nikolai, Nikkolay, Nicolo, Nicolls, Nicoll, Nicolis, Nicoli, Nicolet, Nicolaus, Nicolaas, Nicol, Nickolas, Nicklas and Nicholai.