A bulk amorphous alloy has the approximate composition: Fe.sub.(100-a-b-c-d-e)Y.sub.aMn.sub.bT.sub.cM.sub.dX.sub.e wherein: T includes at least one of the group consisting of: Ni, Cu, Cr and Co; M includes at least one of the group consisting of W, Mo, Nb, Ta, Al and Ti; X includes at least one of the group consisting of Co, Ni and Cr; a is an atomic percentage, and a<5; b is an atomic percentage, and b.ltoreq.25; c is an atomic percentage, and c.ltoreq.25; d is an atomic percentage, and d.ltoreq.25; and e is an atomic percentage, and 5.ltoreq.e.ltoreq.30.