In modern multi-threaded environments, threads often work cooperatively toward providing collective or aggregate throughput for an application as a whole. Optimizing in the small for “thread local” common path latency is often but not always the best approach for a concurrent system composed of multiple cooperating threads. Some embodiments provide a technique for augmenting traditional code emission with thread-aware policies and optimization strategies for a multi-threaded application. During operation, the system obtains information about resource contention between executing threads of the multi-threaded application. The system analyzes the resource contention information to identify regions of the code to be optimized. The system recompiles these identified regions to produce optimized code, which is then stored for subsequent execution.