Given a graph G, a properk-coloring of G is a partition $$c = (S_i)_{i\in [1,k]}$$ of V(G) into k stable sets $$S_1,\ldots , S_{k}$$ . Given a weight function $$w: V(G) \rightarrow {\mathbb {R}}^+$$ , the weight of a color $$S_i$$ is defined as $$w(i) = \max _{v \in S_i} w(v)$$ and the weight of a coloringc as $$w(c) = \sum _{i=1}^{k}w(i)$$ . Guan and Zhu (Inf Process Lett 61(2):77–81, 1997) defined the weighted chromatic number of a pair (G, w), denoted by $$\sigma (G,w)$$ , as the minimum weight of a proper coloring of G. The problem of determining $$\sigma (G,w)$$ has received considerable attention during the last years, and has been proved to be notoriously hard: for instance, it is NP-hard on split graphs, unsolvable on n-vertex trees in time $$n^{o(\log n)}$$ unless the ETH fails, and W[1]-hard on forests parameterized by the size of a largest tree. We focus on the so-called dual parameterization of the problem: given a vertex-weighted graph (G, w) and an integer k, is $$\sigma (G,w) \le \sum _{v \in V(G)} w(v) - k$$ ? This parameterization has been recently considered by Escoffier (in: Proceedings of the 42nd international workshop on graph-theoretic concepts in computer science (WG). LNCS, vol 9941, pp 50–61, 2016), who provided an FPT algorithm running in time $$2^{{\mathcal {O}}(k \log k)} \cdot n^{{\mathcal {O}}(1)}$$ , and asked which kernel size can be achieved for the problem. We provide an FPT algorithm in time $$9^k \cdot n^{{\mathcal {O}}(1)}$$ , and prove that no algorithm in time $$2^{o(k)} \cdot n^{{\mathcal {O}}(1)}$$ exists under the ETH. On the other hand, we present a kernel with at most $$(2^{k-1}+1) (k-1)$$ vertices, and rule out the existence of polynomial kernels unless $$\mathsf{NP} \subseteq \mathsf{coNP} / \mathsf{poly}$$ , even on split graphs with only two different weights. Finally, we identify classes of graphs allowing for polynomial kernels, namely interval graphs, comparability graphs, and subclasses of circular-arc and split graphs, and in the latter case we present lower bounds on the degrees of the polynomials.