A hard bias structure for biasing a free layer in a MR element within a read head is comprised of a composite hard bias layer having a Co.sub.78.6Cr.sub.5.2Pt.sub.16.2/Co.sub.65Cr.sub.15Pt.sub.20 configuration. The upper Co.sub.65Cr.sub.15Pt.sub.20 layer has a larger Hc value and a thickness about 2 to 10 times greater than that of the Co.sub.78.6Cr.sub.5.2Pt.sub.16.2 layer. The hard bias structure may also include a BCC underlayer such as FeCoMo which enhances the magnetic moment of the hard bias structure. Optionally, the thickness of the Co.sub.78.6Cr.sub.5.2Pt.sub.16.2 layer is zero and the Co.sub.65Cr.sub.15Pt.sub.20 layer is formed on the BCC underlayer. The present invention also encompasses a laminated hard bias structure. The Mrt value for the hard bias structure may be optimized by adjusting the thicknesses of the BCC underlayer and CoCrPt layers. As a result, a larger process window is realized and lower asymmetry output during a read operation is achieved.