Effective leadership is greatly influenced by emotional intelligence (EI). The current study examined how participants' transformational leadership and performance-based emotional intelligence (EI) related to their superiors' and subordinates' perceptions of their leadership efficacy. The Multifactor Leadership Questionnaire (MLQ) 5X scale and the Mayer, Salovey, and Caruso EI Test were given to the 200 managers in the sample. The MLQ 5X scale and the effectiveness scale created by Shanock and Eisenberger (2006) were used to gauge Superior's opinion on leadership effectiveness. The efficacy of leadership was evaluated by using a supervisory leadership survey created by Kerr, Garvin, Heaton, and Boyle (2006). According to a Pearson's correlation coefficient, overall EQ (r = 0.27, p<0.01, n = 200), strategic EQ (r = 0.24, p<0.01, n = 200), and experience EQ (r = 0.20, p<0.01, n = 200) were significantly positively correlated with subordinates' perceptions of leadership effectiveness. Perceived leadership effectiveness was significantly positively correlated with all transformative behaviors (r ranged from 0.42 to 0.22, p<0.01). Perceived leadership effectiveness and strategic EQ (r = 0.18, p<0.01) and all transformational behaviors (r ranging from 0.61 to 0.49, p<0.01) were significantly positively correlated with superiors' ratings. The findings of the multiple regression analysis showed that transformational leadership behaviors were a positive predictor of the efficacy of a subordinate's leadership, accounting for 23% of the variation (β = 0.15, ΔR2 = 0.19, p<0.01). Transformational behaviors accounted for 48% of the variation in superiors' perceptions of leadership effectiveness (β = 0.27, ΔR2 = 0.19, p<0.01). In both situations, perceived effectiveness was not predicted by the leader's emotional intelligence.