Leadership has been studied as an essential component for success in business, government, and military environments. However, the optimal style of leadership in university settings remains unclear. Transformational leadership style has been proposed as efficient for universities, however some experts have argued that transformational leadership is actually counterproductive at academic institutions. Increasing public scrutiny of university leaders has also raised the question of presidential leadership style. One manifestation of this scrutiny is the U.S. News & World Report (USNWR) annual college ranking. To resolve the uncertainty regarding effective leadership style the present study was designed to address the following research questions: 1. Is there any relationship between a top tier ranking in the USNWR and a particular leadership style? 2. Is there agreement among top administrators at the ranked institutions regarding the style of leadership exhibited by their university president? The proposed study answers these questions through the analysis of data gathered utilizing the Multifactor Leadership Questionnaire. The survey instrument was sent to three top administrators at the top 50 ranked national universities according to USNWR. A score was derived which provided a quantitative assessment of transformational, transactional or laissez-faire leadership styles. In addition, a satisfaction score was determined. The key results of the study show: 1) transformational leadership was found in 56% to 74% of the rated presidents; 2) transformational leaders were found to induce the greatest satisfaction; 3) transactional leadership style was exhibited 24% of the time, and laissez-faire leadership was found among 8% of the presidents; 4) laissez-faire leadership was noted significantly more frequently among universities ranked from 40 - 50 according to the USNWR; and 5) there was no statistical agreement among the administrators surveyed.In conclusion, the findings of this study indicate that transformational leadership is the most satisfactory style of leadership among these national universities. The rating of transformational university presidents as highly satisfactory demonstrates the success of presidents with these leadership skills.