Schrempf played in the NBA for 16 seasons, including stints with the Indiana Pacers, the Seattle SuperSonics, and the Portland Trail Blazers.

As a senior, he led the Tigers to the Class AA (now 2A) state championship in 1981, scoring 24 points in the title game,[3] a 52–43 victory over the Timberline Blazers of Lacey.

[4] After graduating he enrolled at the University of Washington in Seattle, where he played for the Huskies under head coach Marv Harshman.

With Schrempf, the Huskies won Pac-10 regular-season titles in 1984 and 1985 and made three postseason appearances, reaching the Sweet 16 in 1984.

He became a regular in NBA rotations after being traded to the Indiana Pacers for veteran center Herb Williams in February 1989.

Following the 1992–93 NBA season, Schrempf was traded to the Seattle SuperSonics for forwards Derrick McKey and Gerald Paddio.

On a Sonics team that also featured Gary Payton, Shawn Kemp, Sam Perkins, and Hersey Hawkins, Schrempf reached the NBA Finals in 1996, where they lost to Michael Jordan's Chicago Bulls in six games.

[17] Since 2010, Schrempf has been the Business Development Officer at Coldstream Capital, a wealth management firm in Seattle.