A method includes generating, during manufacture of a heat-assisted magnetic recording (HAMR) disk drive, a temperature compensation equation for a compensation factor using initial operating currents supplied to a laser diode of the disk drive at different initial operating temperatures and an efficiency value based on the initial operating temperatures. The operating currents are representative of currents for recording data to or erasing data from a magnetic recording medium. The temperature compensation equation is stored in the disk drive. A subsequent efficiency value is determined based on at least one of the initial operating temperatures and an operating temperature differing from the initial operating temperatures. An updated compensation factor at the operating temperature is determined during field operation using the temperature compensation equation and the subsequent efficiency value. An updated operating current is calculated using the updated compensation factor and the operating temperature. A current supplied to the laser diode for a subsequent write operation is adjusted to the updated operating current.