A semiconductor laser package and method of fabrication including a vertical cavity surface emitting laser and a power monitoring system, such as a photodetector mounted on a mounting base. An optical element, such as a beam splitter, formed integral with the mounting base or as a separate element positioned on the mounting base in optical alignment with an emission generated by the vertical cavity surface emitting laser. The optical element characterized by reflecting a portion of the emission in the direction of the photodetector and allowing a portion of the emission to pass therethrough. An overmolded housing is positioned on the mounting base to enclose the vertical cavity surface emitting laser, the photodetector and the optical element.