Spin transfer torque memory elements and memory devices are provided. In one embodiment, the spin transfer torque memory element includes a first portion including CoFeB, a second portion including CoFeB, an intermediate portion interposed between the first and second portions, a third portion adjoining the second portion opposite the intermediate portion, and a fourth portion adjoining the third portion opposite the second portion. The intermediate portion includes MgO. The third portion includes at least one of Ag, Au, Cr, Cu, Hf, Mo, Nb, Os, Re, Ru, Ta, W, and Zr. The fourth portion includes at least alloy of CoPt, FePt, and Ru.