Given a graph $G$, a proper $k$-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 $w: V(G) \to \mathbb{R}^+$, the weight of a color $S_i$ is defined as $w(i) = \max_{v \in S_i} w(v)$ and the weight of a coloring $c$ as $w(c) = \sum_{i=1}^{k}w(i)$. Guan and Zhu [Inf. Process. Lett., 1997] defined the weighted chromatic number of a pair $(G,w)$, denoted by $σ(G,w)$, as the minimum weight of a proper coloring of $G$. The problem of determining $σ(G,w)$ 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. In this article we provide some positive results for the problem, by considering its so-called dual parameterization: given a vertex-weighted graph $(G,w)$ and an integer $k$, the question is whether $σ(G,w) \leq \sum_{v \in V(G)} w(v) - k$. We prove that this problem is FPT by providing an algorithm running in time $9^k \cdot n^{O(1)}$, and it is easy to see that no algorithm in time $2^{o(k)} \cdot n^{O(1)}$ exists under the ETH. On the other hand, we present a kernel with at most $(2^{k-1}+1) (k-1)$ vertices, and we rule out the existence of polynomial kernels unless ${\sf NP} \subseteq {\sf coNP} / {\sf poly}$, even on split graphs with only two different weights. Finally, we identify some classes of graphs on which the problem admits a polynomial kernel, in particular interval graphs and subclasses of split graphs, and in the latter case we present lower bounds on the degrees of the polynomials.