Effect of deposition order on the magnetic behavior of magnetic bilayers has been investigated. Different out-of-plane texture has been obtained on reversing the deposition order of Co/Fe bilayer, prepared by ion beam sputtering method. Si(substrate)/Fe/Co shows higher coercivity value compared to Si(substrate)/Co/Fe. Annealing of as-deposited specimens does not show any change in the coercivity value. Nitrogen-ion implantation with a fluence of 5×10 16 ions/cm 2 , drastically increases the coercivity value of Substrate/Fe/Co film. In situ annealing of Substrate/Fe/Co, does not show any structural changes in the film, while Substrate/Co/Fe shows the phase transformation from hcp Co to fcc Co, and the appearance of new peaks in the EDXRD pattern suggest the formation of new nano-crystalline phase.