diff --git a/mm/page_alloc.c b/mm/page_alloc.c
index a42fa09ee91f..ae721a713bda 100644
--- a/mm/page_alloc.c
+++ b/mm/page_alloc.c
@@ -3479,7 +3479,7 @@ __alloc_pages_slowpath(gfp_t gfp_mask, unsigned int order,
 	struct page *page = NULL;
 	unsigned int alloc_flags;
 	unsigned long did_some_progress;
-	enum migrate_mode migration_mode = MIGRATE_ASYNC;
+	enum migrate_mode migration_mode = MIGRATE_SYNC_LIGHT;
 	enum compact_result compact_result;
 	int compaction_retries = 0;
 	int no_progress_loops = 0;
@@ -3521,6 +3521,52 @@ __alloc_pages_slowpath(gfp_t gfp_mask, unsigned int order,
 	if (page)
 		goto got_pg;
 
+	/*
+	 * For costly allocations, try direct compaction first, as it's likely
+	 * that we have enough base pages and don't need to reclaim. Don't try
+	 * that for allocations that are allowed to ignore watermarks, as the
+	 * ALLOC_NO_WATERMARKS attempt didn't yet happen.
+	 */
+	if (can_direct_reclaim && order > PAGE_ALLOC_COSTLY_ORDER &&
+		!gfp_pfmemalloc_allowed(gfp_mask)) {
+		page = __alloc_pages_direct_compact(gfp_mask, order,
+						alloc_flags, ac,
+						MIGRATE_ASYNC,
+						&compact_result);
+		if (page)
+			goto got_pg;
+
+		/* Checks for THP-specific high-order allocations */
+		if (is_thp_gfp_mask(gfp_mask)) {
+			/*
+			 * If compaction is deferred for high-order allocations,
+			 * it is because sync compaction recently failed. If
+			 * this is the case and the caller requested a THP
+			 * allocation, we do not want to heavily disrupt the
+			 * system, so we fail the allocation instead of entering
+			 * direct reclaim.
+			 */
+			if (compact_result == COMPACT_DEFERRED)
+				goto nopage;
+
+			/*
+			 * Compaction is contended so rather back off than cause
+			 * excessive stalls.
+			 */
+			if (compact_result == COMPACT_CONTENDED)
+				goto nopage;
+
+			/*
+			 * It can become very expensive to allocate transparent
+			 * hugepages at fault, so use asynchronous memory
+			 * compaction for THP unless it is khugepaged trying to
+			 * collapse. All other requests should tolerate at
+			 * least light sync migration.
+			 */
+			if (!(current->flags & PF_KTHREAD))
+				migration_mode = MIGRATE_ASYNC;
+		}
+	}
 
 retry:
 	/* Ensure kswapd doesn't accidentally go to sleep as long as we loop */
@@ -3575,38 +3621,6 @@ retry:
 	if (test_thread_flag(TIF_MEMDIE) && !(gfp_mask & __GFP_NOFAIL))
 		goto nopage;
 
-	/*
-	 * Try direct compaction. The first pass is asynchronous. Subsequent
-	 * attempts after direct reclaim are synchronous
-	 */
-	page = __alloc_pages_direct_compact(gfp_mask, order, alloc_flags, ac,
-					migration_mode,
-					&compact_result);
-	if (page)
-		goto got_pg;
-
-	/* Checks for THP-specific high-order allocations */
-	if (is_thp_gfp_mask(gfp_mask)) {
-		/*
-		 * If compaction is deferred for high-order allocations, it is
-		 * because sync compaction recently failed. If this is the case
-		 * and the caller requested a THP allocation, we do not want
-		 * to heavily disrupt the system, so we fail the allocation
-		 * instead of entering direct reclaim.
-		 */
-		if (compact_result == COMPACT_DEFERRED)
-			goto nopage;
-
-		/*
-		 * Compaction is contended so rather back off than cause
-		 * excessive stalls.
-		 */
-		if(compact_result == COMPACT_CONTENDED)
-			goto nopage;
-	}
-
-	if (order && compaction_made_progress(compact_result))
-		compaction_retries++;
 
 	/* Try direct reclaim and then allocating */
 	page = __alloc_pages_direct_reclaim(gfp_mask, order, alloc_flags, ac,
@@ -3614,16 +3628,26 @@ retry:
 	if (page)
 		goto got_pg;
 
+	/* Try direct compaction and then allocating */
+	page = __alloc_pages_direct_compact(gfp_mask, order, alloc_flags, ac,
+					migration_mode,
+					&compact_result);
+	if (page)
+		goto got_pg;
+
+	if (order && compaction_made_progress(compact_result))
+		compaction_retries++;
+
 	/* Do not loop if specifically requested */
 	if (gfp_mask & __GFP_NORETRY)
-		goto noretry;
+		goto nopage;
 
 	/*
 	 * Do not retry costly high order allocations unless they are
 	 * __GFP_REPEAT
 	 */
 	if (order > PAGE_ALLOC_COSTLY_ORDER && !(gfp_mask & __GFP_REPEAT))
-		goto noretry;
+		goto nopage;
 
 	/*
 	 * Costly allocations might have made a progress but this doesn't mean
@@ -3662,25 +3686,6 @@ retry:
 		goto retry;
 	}
 
-noretry:
-	/*
-	 * High-order allocations do not necessarily loop after direct reclaim
-	 * and reclaim/compaction depends on compaction being called after
-	 * reclaim so call directly if necessary.
-	 * It can become very expensive to allocate transparent hugepages at
-	 * fault, so use asynchronous memory compaction for THP unless it is
-	 * khugepaged trying to collapse. All other requests should tolerate
-	 * at least light sync migration.
-	 */
-	if (is_thp_gfp_mask(gfp_mask) && !(current->flags & PF_KTHREAD))
-		migration_mode = MIGRATE_ASYNC;
-	else
-		migration_mode = MIGRATE_SYNC_LIGHT;
-	page = __alloc_pages_direct_compact(gfp_mask, order, alloc_flags,
-					    ac, migration_mode,
-					    &compact_result);
-	if (page)
-		goto got_pg;
 nopage:
 	warn_alloc_failed(gfp_mask, order, NULL);
 got_pg: