Despite increasing attention to emotional intelligence (EI) in the workplace, few studies have investigated EI at the group level. In this study, we propose that average member EI indirectly affects team performance by shaping emergent team dynamics. The results based on 91 teams show that both average member EI and leader EI are positively associated with intrateam trust, which in turn positively relates to team performance. Average member EI and leader EI have a compensatory relationship in predicting team performance. Either high average member EI or high leader EI (not necessarily both) is sufficient to explain a high level of team performance. This pattern is particularly strong with the emotion appraisal and social skills dimensions of EI. Our study highlights the need for increased attention to EI at the group level, which shapes emergent states and outcomes of work teams.