Ultrafast magnetization dynamics of nickel has been studied for differ
ent degrees of electronic excitation, using pump-probe second-harmonic
generation (SHG) with 150 fs, 800 nm laser pulses of various fluences
. Information about the electronic and magnetic response to laser irra
diation is obtained from sums and differences of the SHG intensity for
opposite magnetization directions. The classical M(T) curve can be re
produced for delay times longer than the electron thermalization time
of about 280 fs, even when electrons and lattice have not reached ther
mal equilibrium. Further we show that the transient magnetization reac
hes its minimum approximate to 50 fs before electron thermalization is
completed.