Now that Berkshire Hathaway has hired Ted Weschler as a portfolio manager and reports say that Weschler had paid $5.3mn for a pair of dinners with Warren Buffett, there is one question to be answered -- Is that too much to pay for one's dream job?

Weschler met Buffett by winning Buffett's annual “Power Lunch” charity auction for the last two years. Bids of about $2.62mn won the auction both times.

Rather than lunch at New York's Smith & Wollensky steakhouse, the auction's regular venue, Weschler and Buffett actually had dinner in Omaha both years at Buffett's favorite steakhouse, Piccolo Pete's. The dinners must have been good because the men hit it off immediately.

Buffett was especially impressed with Weschler's success managing his hedge fund Peninsula Capital Advisors, which has about $2bn of stocks and a three-person office. Of particular note is Weschler's successful bet on Bank of America, of which he bought 2mn shares in Q1 2009.

Weschler is going to one of the leaders of the next generation at Berkshire, and for that opportunity a paltry $5mn seems like a drop in the bucket. And while it's been referred to as an unprecedented move in financial circles, it's hardly the first time someone's spent a bundle on an influential position. For example, New York City Mayor Michael Bloomberg spent over $250mn on his three successful election campaigns, while Steve Forbes dropped $114mn on a pair of unsuccessful presidential bids.

In the end, Buffett and Weschler are both happy with the arrangement, and that's all they'll care about. But it does make for one impressive hiring story. [Forbes, 9/12/11]