High resolution, angular-resolved photoemission is used in a comparison of the energy bands of permalloy (Ni0.8Fe0.2) and single crystal Ni. The nickel was cleaned with a combination of Ar-ion bombardment and annealing. The permalloy was grown epitaxially on the clean single crystal Ni surface to minimize lattice mismatch. The magnetically split bands at the Fermi level that are responsible for spin-dependent transport are resolved in both systems. In addition, spectra are shown demonstrating both “s,p” anddbands in Ni.