Multimode optical fiber systems with adjustable chromatic modal dispersion compensation are disclosed, wherein the system includes a VCSEL light source and primary and secondary optically coupled multimode optical fibers. Because the VCSEL light source has a wavelength spectrum that radially varies, its use with the primary multimode optical fiber creates chromatic modal dispersion that reduces bandwidth. The compensating multimode optical fiber is designed to have a difference in alpha parameter relative to the primary multimode optical fiber of −0.1≦Δα≦−0.9. This serves to create a modal delay opposite to the chromatic modal dispersion. The compensation is achieved by using a select length of the compensating multimode optical fiber optically coupled to an output end of the primary multimode optical fiber. The compensating multimode optical fiber can be configured to be bend insensitive.