The medal recognizes service performed by members of the reserve components and is awarded to both officers and enlisted personnel.

Periods of service for the Armed Forces Reserve Medal are denoted through the use of the hourglass device.

For those who complete forty years of reserve service, a gold and bronze hourglass device are worn simultaneously.

The Armed Forces Reserve Medal is also awarded to any member of the Reserve or National Guard who is involuntarily mobilized for a contingency operation under Title 10 or Title 14, or volunteers for federal active duty during any such mobilization.

In such cases, the medal with an "M" device (for mobilization) are both awarded together without regard to the period or length of service.

[18] However, in the Army, multiple deployments for different operations during a call-up for the same executive order only qualify for a single award of the "M" device.

[17] The Military Departments are responsible for determining individual eligibility for the "M" device based on award criteria.