Method and system embodying the method for load balancing of scheduled jobs among a plurality of engines encompassing determining a number of cluster credits for each of a plurality of clusters that comprise at least one engine capable of processing a scheduled job; determining a number of engine credits for each of the plurality of engines comprising each of the at least one engine in accordance with a number of jobs assigned to each of the plurality of engines; evaluating the determined number of cluster credits and the determined number of engine credits in accordance with a credit evaluation policy; and assigning the job to one of the plurality of engines in accordance with the evaluation, is disclosed.