Magnetic field detecting element having thin stack with a plurality of free layers and thick bias magnetic layer

A magnetic field detecting element comprising: a stack including an upper and magnetic layer, a lower magnetic layer, and a non-magnetic intermediate layer sandwiched therebetween, an upper and lower shield electrode layer provided in a manner that they sandwich said stack therebetween in a direction of stacking of the stack, wherein the upper and lower shield electrode layer supply sense current in the direction of stacking and magnetically shield the stack; a bias magnetic layer provided on a surface of the stack, the surface being opposite to an air bearing surface of said stack, and insulating films provided on both sides of the stack with regard to a track width direction thereof. The bias magnetic layer has a larger thickness than the stack, and the upper shield electrode layer and/or said lower shield electrode layer includes an auxiliary shield layer which fills a stepped portion formed by the stack and bias magnetic layer.