Perpendicular magnetic anisotropy (PMA) materials have unique advantages when used in magnetic tunnel junctions (MTJ) which are the most critical part of spin-torque transfer random access memory devices (STT-RAMs) that are being researched intensively as future non-volatile memory technology. They have high magnetoresistance which improves their sensitivity. The STT-RAM has several advantages over competing technologies, for instance, low power consumption, non-volatility, ultra-fast read and write speed and high endurance. In personal computers, it can replace SRAM for high-speed applications, Flash for non-volatility, and PSRAM and DRAM for high-speed program execution. The main aim of this research is to identify and optimize the best perpendicular magnetic anisotropy (PMA) material system for application to STT-RAM technology. Preliminary search for perpendicular magnetic anisotropy (PMA) materials for pinned layer for MTJs started with the exploration and optimization of crystalline alloys such as Co50Pd50 alloy, Mn50Al50 and amorphous alloys such as Tb21Fe72Co7 and are first presented in this work. Further optimization includes the study of Co/ [Pd/Pt]X multilayers (ML), and the development of perpendicular synthetic antiferromagnets (SAF) utilizing these multilayers. Focused work on capping and seed layers to evaluate interfacial perpendicular anisotropy in free layers for pMTJs is then discussed. Optimization of the full perpendicular magnetic tunnel junction (pMTJ) includes the CoFeB/MgO/CoFeB trilayer coupled to a pinned/pinning layer with perpendicular Co/[Pd/Pt]x SAF and a thin Ta seeded CoFeB free layer. Magnetometry, simulations, annealing studies, transport measurements and TEM analysis on these samples will then be presented.