Spectral generalized magneto-optical ellipsometry is presented as an optical tool for the simultaneous measurement of the complex index of refraction ñ=n+ik, the complex magneto-optical coupling parameter Q =Qr+iQi (i.e., the Voigt-parameter), and the orientation of the saturation magnetization Ms of isotropic ferromagnetic bulk materials. For wavelengths between 220nm and 790nm and at temperatures between 4.2K and 800K measurements on iron and permalloy demonstrate the comfortable application of this technique in order to resolve the spectral response of spin-polarized carriers and bands, which can provide valuable insight about the formation of the ferromagnetic state.