We present benchmarks of the parity transformation for the Quantum Approximate Optimization Algorithm (QAOA). We analyse the gate resources required to implement a single QAOA cycle for real-world scenarios. In particular, we consider random spin models with higher order terms, as well as the problems of predicting financial crashes and finding the ground states of electronic structure Hamiltonians.
For the spin models studied our findings imply a significant advantage of the parity mapping compared to the standard gate model. In combination with full parallelizability of gates this has the potential to boost the race for demonstrating quantum advantage.