After stepping down as first deputy prime minister on 4 February 2020, Schneider entered the business world on the board of directors of both ArcelorMittal and the Vladimir Yevtushenkov and Yevgeny Novitsky associated Russian firm Sistema.

[1] In 1997, he was appointed secretary general of the Luxembourg Socialist Workers' Party (LSAP) until he became chairman of the board of the electricity utility Cegedel, subsequently becoming chairman and Managing Director of the German energy company, Enovos [lb; de] (a grid company), the creation of which is also credited to him.

In 2010, he also became chairman and managing director of Luxembourg's Société Nationale de Crédit et d'Investissement but resigned all his business appointments when he became Minister of the Economy and Foreign Trade in February 2012,[1] replacing Jeannot Krecké.

Following the 2018 Luxembourg general election, he became the first openly gay politician to be reelected for the office of deputy minister.

[5] On 30 April 2020 as the sole shareholder, Schneider established his first anonymous limited firm SA Beta Aquarii which is named after the brightest star in the constellation associated with Schneider's astrological sign Aquarius and is located on Boulevard de la Pétrusse in Luxembourg.

[7][8][9][a] Following the Russia invasion of Ukraine in February 2022, both Schneider and Krecké severed their ties to Sistema and East-West United Bank (Luxembourg).