Transactional and Transformational leadership styles have attracted the interest of many researchers in recent time. While some believe that they are the same, others believe they are different. This paper gives an introductory perspective into the the difference between transformational and transactionary leadership drawing from evidence in literature. The paper concludes that although they are conceptually different, some elements of transactionary leadership exists in transformational leadership. Keywords: Leadership, Transactional Leadership, Transformational leadership, Charismatic Leadership.