Abstract: A method of preparing a magnetic member composed of a non-magnetic substrate carrying a magnetic film of a transition metal-rare earth alloy comprising decomposing a rare earth metal compound below 1,000.degree. C to form a layer of rare earth metal on a substrate, decomposing a transition metal compound below 1,000.degree. C to form a layer of transition metal on the deposited rare earth metal, heating the metals to form an alloy thereof which has its preferred axis of magnetization substantially aligned and in a direction perpendicular to the plane of the substrate and magnetizing the film.