A compilation method and mechanism for parallelizing program code. A method for compilation includes analyzing source code and identifying candidate code for parallelization. Having identified one or more suitable candidates, the profitability of parallelizing the candidate code is determined. If the profitability determination meets a predetermined criteria, then the candidate code may be parallelized. If, however, the profitability determination does not meet the predetermined criteria, then the candidate code may not be parallelized. Candidate code may comprises a loop, and determining profitability of parallelization may include computing a probability of transaction failure for the loop. Additionally, a determination of an execution time of a parallelized version of the loop is made. If the determined execution time is less than an execution time of a non-parallelized version of said loop by at least a given amount, then the loop may be parallelized. If the determined execution time is not less than an execution time of a non-parallelized version of said loop by at least a given amount, then the loop may not be parallelized.