We present an improved perfectly matched layer (PML) for the analysis of plasmonic structures, based on the manipulation of PML parameters. Two different types of stretched coordinate PML are employed sequentially in the spatial domain: a real stretched coordinate PML to increase the effective buffer space around plasmonic structures and a complex stretched coordinate PML to absorb outgoing waves and terminate the computational domain. Numerical examples show that a significant increase in computational efficiency is obtained because the proposed PML can be placed closer to plasmonic structures than the regular PML without affecting the field distribution of bound modes.