Magneto optic measurements are a very powerful tool for investigating the polarization of a conduction band as a function of temperature and are used here to study the polarization of the mobile electrons in 50nm LSMO (x=0.3) strained thin films grown epitaxially on single crystalline (001) LaAlO3 (LAO) and (001) lattice matched substrate (LSAT). The magnetic circular dichroism (MCD) has been investigated in magnetic fields up to 0.5 T and over a temperature range (10 to 450 K). The MCD spectra of both the films show a peak at the band gap at around 3 eV and the peak is found to be shifted towards lower energy side with the increase of temperature. A separate polaron peak (well known in insulating samples) appears at lower energy (about 1.8 eV) with the increase of temperature in all these metallic films. The rapid decrease in conduction band polarization in the film on LAO has strong implications for the use of these manganites in room temperature spintronics.