We investigate the effect of Al doping on the magnetic properties of the alloy CoFeB. Comparative measurements of the saturation magnetization, the Gilbert damping parameter α and the exchange constant as a function of the annealing temperature for CoFeB and CoFeAlB thin films are presented. Our results reveal a strong reduction of the magnetization for CoFeAlB in comparison to CoFeB. If the prepared CoFeAlB films are amorphous, the damping parameter α is unaffected by the Al doping in comparison to the CoFeB alloy. In contrast, in the case of a crystalline CoFeAlB film, α is found to be reduced. Furthermore, the x-ray characterization and the evolution of the exchange constant with the annealing temperature indicate a similar crystallization process in both alloys. The data proves the suitability of CoFeAlB for spin torque switching properties where a reduction of the switching current in comparison with CoFeB is expected.The alloy CoFeB is widely used in magnetic tunneling junctions in combination with MgO barriers due to the large magnetoresistance effect originating in the spin filtering effect [1][2][3][4]. For the application in magnetic random access memories, the switching of the magnetization of the free layer via spin transfer torque (STT) with spin polarised currents is a key technology. However, the required currents for the switching process are still large and hinder the applicability of this technique. The critical switching current density for an in-plane magnetized system is given by [5]where e is the electron charge, α is the Gilbert damping parameter, M S is the saturation magnetization, t f is the thickness of the free layer, H ext is the external field, H K is the effective anisotropy field and η is the spin transfer efficiency. From the expression it is clear that, concerning material parameters, J c0 is ruled by the product αM 2 S . For out-of-plane oriented layers, the term 2πM S vanishes and then J C0 is proportional to αM S [6]. Even in the case of using pure spin currents created by the Spin Hall effect, the required currents are proportional to factors of the form α n M S with n = 1, 1/2 [7]. A proper strategy to reduce the critical switching currents is then defined by reducing the saturation magnetization. This can be achieved by the development of new materials or the modification of known materials with promising properties. Since the compatibility with a MgO tunneling barrier and the spin filtering effect must be guaranteed together with industrial applicability, the second option is clearly an advantage by reducing M S in the CoFeB alloy. In this case, a critical point is that this reduction must not be associated with an increase of the damping parameter α.