diff --git a/docs/api.rst b/docs/api.rst
index 86e7838917..f53c75438e 100644
--- a/docs/api.rst
+++ b/docs/api.rst
@@ -44,7 +44,7 @@ Built in wait_time functions
 ============================
 
 .. automodule:: locust.wait_time
-    :members: between, constant, constant_pacing
+    :members: between, constant, constant_pacing, constant_ips, constant_ips_total
 
 HttpSession class
 =================
diff --git a/docs/changelog.rst b/docs/changelog.rst
index b238952788..3f20c25070 100644
--- a/docs/changelog.rst
+++ b/docs/changelog.rst
@@ -9,9 +9,8 @@ In development (master)
 
 * Continuously measure CPU usage and emit a warning if we get a five second average above 90%
 * Show CPU usage of slave nodes in the Web UI
-* Fixed issue when running Locust distributed and new slave nodes connected during the hatching/ramp-up 
-  phase (https://github.com/locustio/locust/issues/1168)
-
+* Add new timers that target iterations per second: constant_ips (the inverse of constant_pacing) and constant_ips_total (total iterations per second, across locusts)
+* Fixed issue when running Locust distributed and new slave nodes connected during the hatching/ramp-up phase (https://github.com/locustio/locust/issues/1168)
 
 0.13.5
 ======
diff --git a/locust/main.py b/locust/main.py
index 704184cc01..ae0f43e7c5 100644
--- a/locust/main.py
+++ b/locust/main.py
@@ -571,7 +571,7 @@ def sig_term_handler():
         main_greenlet.join()
         code = 0
         lr = runners.locust_runner
-        if len(lr.errors) or len(lr.exceptions) or lr.cpu_log_warning():
+        if len(lr.errors) | len(lr.exceptions) | lr.cpu_log_warning() | lr.ips_log_warning():
             code = options.exit_code_on_error
         shutdown(code=code)
     except KeyboardInterrupt as e:
diff --git a/locust/runners.py b/locust/runners.py
index 8dde0006f7..9d125f17c1 100644
--- a/locust/runners.py
+++ b/locust/runners.py
@@ -41,8 +41,10 @@ def __init__(self, locust_classes, options):
         self.state = STATE_INIT
         self.hatching_greenlet = None
         self.stepload_greenlet = None
+        self.target_user_count = None
         self.current_cpu_usage = 0
         self.cpu_warning_emitted = False
+        self.ips_warning_emitted = False
         self.greenlet.spawn(self.monitor_cpu)
         self.exceptions = {}
         self.stats = global_stats
@@ -77,8 +79,13 @@ def cpu_log_warning(self):
         """Called at the end of the test to repeat the warning & return the status"""
         if self.cpu_warning_emitted:
             logger.warning("Loadgen CPU usage was too high at some point during the test! See https://docs.locust.io/en/stable/running-locust-distributed.html for how to distribute the load over multiple CPU cores or machines")
-            return True
-        return False
+        return self.cpu_warning_emitted
+
+    def ips_log_warning(self):
+        """Called at the end of the test to repeat the warning & return the status"""
+        if self.ips_warning_emitted:
+            logger.warning("Failed to reach targeted number of iterations per second (at some point during the test). The most common cause of this is target system overload or too few clients")
+        return self.ips_warning_emitted
 
     def weight_locusts(self, amount):
         """
@@ -210,6 +217,7 @@ def start_hatching(self, locust_count, hatch_rate, wait=False):
             self.exceptions = {}
             self.cpu_warning_emitted = False
             self.slave_cpu_warning_emitted = False
+            self.target_user_count = locust_count
             events.locust_start_hatching.fire()
 
         # Dynamically changing the locust count
@@ -292,6 +300,7 @@ def on_locust_error(locust_instance, exception, tb):
         events.locust_error += on_locust_error
 
     def start_hatching(self, locust_count, hatch_rate, wait=False):
+        self.target_user_count = locust_count
         if hatch_rate > 100:
             logger.warning("Your selected hatch rate is very high (>100), and this is known to sometimes cause issues. Do you really need to ramp up that fast?")
         if self.hatching_greenlet:
@@ -323,7 +332,6 @@ class MasterLocustRunner(DistributedLocustRunner):
     def __init__(self, *args, **kwargs):
         super(MasterLocustRunner, self).__init__(*args, **kwargs)
         self.slave_cpu_warning_emitted = False
-        self.target_user_count = None
 
         class SlaveNodesDict(dict):
             def get_by_state(self, state):
diff --git a/locust/test/test_runners.py b/locust/test/test_runners.py
index 97b0792c2a..b8374ee791 100644
--- a/locust/test/test_runners.py
+++ b/locust/test/test_runners.py
@@ -13,7 +13,7 @@
      SlaveLocustRunner, STATE_INIT, STATE_HATCHING, STATE_RUNNING, STATE_MISSING
 from locust.stats import global_stats, RequestStats
 from locust.test.testcases import LocustTestCase
-from locust.wait_time import between, constant
+from locust.wait_time import between, constant, constant_ips_total
 
 
 def mocked_rpc():
@@ -627,6 +627,26 @@ class MyLocust(Locust):
         self.assertTrue("HeyAnException" in exception["traceback"])
         self.assertEqual(2, exception["count"])
 
+    def test_constant_ips_total(self):
+        target_ips = 50
+        run_time = 3
+        
+        class MyTestLocust(Locust):
+            i = 0
+            class task_set(TaskSet):
+                @task
+                def the_task(self):
+                    MyTestLocust.i = MyTestLocust.i + 1
+            wait_time = constant_ips_total(target_ips)
+
+        options = mocked_options()
+        runner = LocalLocustRunner([MyTestLocust], options)
+        runners.locust_runner = runner # this is necessary for ips_total
+        runner.start_hatching(10, 999)
+        gevent.sleep(run_time)
+        runner.quit()
+        locust_runner = None # just in case someone depends on this not being set
+        self.assertAlmostEqual(MyTestLocust.i, target_ips * run_time, delta=25)
 
 class TestSlaveLocustRunner(LocustTestCase):
     def setUp(self):
diff --git a/locust/test/test_wait_time.py b/locust/test/test_wait_time.py
index 359c536dc8..fec7493288 100644
--- a/locust/test/test_wait_time.py
+++ b/locust/test/test_wait_time.py
@@ -3,7 +3,7 @@
 
 from locust.core import HttpLocust, Locust, TaskSet, events, task
 from locust.exception import MissingWaitTimeError
-from locust.wait_time import between, constant, constant_pacing
+from locust.wait_time import between, constant, constant_pacing, constant_ips, constant_ips_total
 
 from .testcases import LocustTestCase, WebserverTestCase
 
@@ -70,6 +70,26 @@ class TS(TaskSet):
             _ = ts2.wait_time()
             _ = ts2.wait_time()
 
+    def test_constant_ips(self):
+        # Note: constant_ips_total is tested in test_runners.py, because it requires a runner
+        class User(Locust):
+            wait_time = constant_ips(10)
+        class TS(TaskSet):
+            pass
+        ts = TS(User())
+        
+        ts2 = TS(User())
+        
+        previous_time = time.time()
+        for i in range(7):
+            ts.wait()
+            since_last_run = time.time() - previous_time
+            self.assertLess(abs(0.1 - since_last_run), 0.02)
+            previous_time = time.time()
+            time.sleep(random.random() * 0.1)
+            _ = ts2.wait_time()
+            _ = ts2.wait_time()
+
     def test_missing_wait_time(self):
         class User(Locust):
             pass
diff --git a/locust/wait_time.py b/locust/wait_time.py
index 1399f37810..0e2bf846b7 100644
--- a/locust/wait_time.py
+++ b/locust/wait_time.py
@@ -1,5 +1,7 @@
 import random
 from time import time
+from locust import runners
+import logging
 
 
 def between(min_wait, max_wait):
@@ -46,8 +48,9 @@ def my_task(self):
     If a task execution exceeds the specified wait_time, the wait will be 0 before starting 
     the next task.
     """
+
     def wait_time_func(self):
-        if not hasattr(self,"_cp_last_run"):
+        if not hasattr(self, "_cp_last_run"):
             self._cp_last_wait_time = wait_time
             self._cp_last_run = time()
             return wait_time
@@ -56,4 +59,56 @@ def wait_time_func(self):
             self._cp_last_wait_time = max(0, wait_time - run_time)
             self._cp_last_run = time()
             return self._cp_last_wait_time
+
+    return wait_time_func
+
+
+def constant_ips(ips):
+    """
+    This behaves exactly the same as constant_pacing but with an inverted parameter.
+    It takes iterations per second as a parameter instead of time between iterations.
+    """
+
+    return constant_pacing(1.0 / ips)
+
+
+def constant_ips_total(ips):
+    """
+    Returns a function that will track the run time of all tasks in this locust process, 
+    and for each time it's called it will return a wait time that will try to make the 
+    execution equal to the time specified by the wait_time argument. 
+    
+    This is similar to constant_ips, but looks at all clients/locusts in a locust process.
+
+    Note that in a distributed run, the iterations per second limit is applied per-slave, not globally.
+
+    During rampup, the IPS is intentionally constrained to be the requested ips * the share of running clients.
+
+    Will output a warning if IPS target is missed twice in a row
+    """
+
+    def wait_time_func(self):
+        lr = runners.locust_runner
+        if not lr:
+            logging.warning(
+                "You asked for constant total ips, but you seem to be running a locust directly. Hopefully you are only running one locust, in which case this will give a somewhat reasonable estimate."
+            )
+            return 1.0 / ips
+        current_time = float(time())
+        unstarted_clients = lr.target_user_count - lr.user_count
+        if not hasattr(self, "_cp_last_run"):
+            self._cp_last_run = 0
+            self._cp_target_missed = False
+        next_time = self._cp_last_run + (lr.target_user_count + unstarted_clients) / float(ips)
+        if current_time > next_time:
+            if lr.state == runners.STATE_RUNNING and self._cp_target_missed and not lr.ips_warning_emitted:
+                logging.warning("Failed to reach target ips, even after rampup has finished")
+                lr.ips_warning_emitted = True  # stop logging
+            self._cp_target_missed = True
+            self._cp_last_run = current_time
+            return 0
+        self._cp_target_missed = False
+        self._cp_last_run = next_time
+        return next_time - current_time
+
     return wait_time_func