Based on social exchange theory, current study examined the impact of transactional leadership on supervisor rated job performance of employees. Moreover, moderating role of work meaningfulness between this linkage is verified. Primary data from 240 faculty members were collected from different private and public sector universities of Islamabad, Rawalpindi, Lahore & Sialkot. Simple random sampling technique was used. Data were analyzed using SPSS and Hayes’s PROCESS. Correlations & Regression analysis were applied. The results bolstered the hypothesis of the study. Findings revealed that transactional leadership has a positive impact on job performance of the faculty members. Further, work meaningfulness is proven its moderating role between transactional leadership and job performance. The study will help the managers/leaders in Higher Education Sector to understand the role of transactional leadership and work meaningfulness for improving performance of the faculty members. Keywords: Transactional Leadership, Work Meaningfulness, Supervisor Rated Job Performance, Social Exchange Theory.