The transient dynamics of photothermal signals provide interesting insights into material properties and heat diffusion. In a mid-infrared (mid-IR) photothermal microscope, the imaging contrast in a standard amplitude imaging can decrease due to thermal diffusion effects. It is shown that contrast varies for poly-methyl 2-methylpropenoate (PMMA) particles of different sizes when embedded in an absorbing medium of water (H2O) based on levels of heat exchange under the water absorption resonance. Using time-resolved boxcar (BC) detection, analysis of the transient thermal dynamics at the bead-water interface is presented, and the time decay parameters for 500 nm and 100 nm beads are determined. Enhanced (negative) imaging contrast is observed for less heat exchange between the water and bead, as in the case for the 100 nm bead. For the 500 nm bead, boxcar imaging before heat exchange starts occurring, leads to an increase of the imaging contrast up to a factor of 1.6.