A magnetic structure formed on a substrate and comprising a ferromagnetic (FM) layer that is a free layer having perpendicular magnetic anisotropy (PMA) wherein the FM layer has a first surface contacting a non-ferromagnetic metallic (NM) layer that is one or more of W, Mo, and NiCr, and a second surface that contacts a first oxide layer (OL1), wherein the FM layer comprises:
- (a) a first ferromagnetic sub-layer (FML1) formed on OL1;
- (b) a first non-magnetic layer (NML1) that is one of Sr, and Ba;
- and
- (c) a second ferromagnetic sub-layer (FML2) to give a FML1/NML1/FML2 configuration where FML2 is an uppermost magnetic layer in the magnetic structure and contacts a bottom surface of the NM layer.