Abstract: Embodiments of the present invention address deficiencies of the art in respect to deploying heterogeneous workloads in separate resource pools and provide a method, system and computer program product for on-demand application scheduling in a heterogeneous environment. In one embodiment of the invention, a method for balancing nodal allocations in a resource pool common to both transactional workloads and long running workloads can include parsing a service policy for both transactional workloads and also long running workloads. An allocation of nodes for a common resource pool for the transactional and long running workloads can be determined to balance performance requirements for the transactional workloads and long running workloads specified by the service policy. Subsequently, the determined allocation can be applied to the common resource pool.