The present invention provides a wave spring and a load adjusting method therefor in which a ratio of a spring constant can be freely adjusted. In a wave spring, a high mountain portion and a low mountain portion form a combination, and the combination is repeatedly formed along a circumferential direction. A valley portion is formed between the mountain portions. Since distance between mountain portions is constant in the conventional design of wave springs, the ratios of spring constant are only specific values (plot indicated by ∘). In contrast, in the design of the wave spring, since the pitch angle A of the high mountain portion and the pitch angle B of the low mountain portion can be changed in the combination, the ratio can be freely adjusted.