An integrated circuit (IC) may include a semiconductor substrate, and a semiconductor resistor. The semiconductor resistor may include a well in the semiconductor substrate and having a first conductivity type, a first resistive region in the well having an L-shape and a second conductivity type, and a tuning element associated with the first resistive region. The IC may also include a resistance compensation circuit on the semiconductor substrate. The resistance compensation circuit may be configured to measure an initial resistance of the first resistive region, and generate a voltage at the tuning element to tune an operating resistance of the first resistive region based upon the measured initial resistance.