An InGaAs-InAlAs multiple-quantum-we (MQW) electroabsorption (EA) waveguide modulator fabricated on a GaAs substrate has been designed and characterized at 1.3-mu m wavelength for microwave signal transmission on an analog fiberoptic link. The modulator structure with a lattice constant 2.5% larger than that of GaAs is grown upon a 0.7-mu m-thick three-stage compositionally step-graded In2Al1-zAs relaxed buffer. The waveguide modulator exhibits a high-electrooptic slope efficiency of 0.56 V-1, a 3-dB electrical bandwidth of 20 GHz, and a large optical saturation intensity in excess of 17 mW. These highspeed optoelectronic modulators could potentially be integrated with on-chip GaAs electronic driver circuits.