A switching regulator circuit and a reference compensation module employed for compensating a reference signal in the switching regulator circuit. The switching regulator circuit with a reference ground having an average offset voltage referenced to a package ground pin, wherein the average offset voltage is proportional to an output current of the switching regulator circuit with a first factor. The reference compensation module may be configured to receive a second reference signal having a bandgap reference voltage with respect to the reference ground and a reference compensation signal proportional to the output current with a second factor, and configured to provide the first reference signal based on compensating the second reference signal with the reference compensation signal to substantially cancel out the average offset voltage from the first reference signal with respect to the ground pin.