We present a steady‐state phenomenological rate equation model describing the temperature dependence of the threshold current and slope efficiency of compressively strained InGaAsP multiquantum well lasers. The model is supported by measurements of differential carrier lifetime and gain carried out as a function of temperature. Differential gain, carrier density at transparency, and internal losses are shown to be the key parameters controlling the temperature sensitivity of our devices. ©1995 American Institute of Physics.