Initially replacing co-founder James Iha, Schroeder made his live debut with the Smashing Pumpkins on May 22, 2007, in Paris, France, as the band embarked on an extensive comeback tour in support of the album Zeitgeist.

After the tour's completion, Schroeder became a core member of the band and was described by Corgan as a key collaborator on the subsequent albums Oceania (2012) and Monuments to an Elegy (2014).

Schroeder began taking formal guitar lessons from David Koval (Dakoda Motor Co. and Breakfast with Amy) at age twelve.

Following the departure of drummer Jimmy Chamberlin and fellow new addition Ginger Pooley in 2010, Schroeder remained the only member of the band besides Corgan still present from the 2007 revival show in Paris.

"[2] In 2018, after performing and recording with the Smashing Pumpkins for over eleven years, Schroeder remained within the band's core lineup, alongside returning founding members James Iha and Jimmy Chamberlin.

Reflecting on the importance of this, Schroeder noted: "I personally had a pretty touchy moment for myself in that I was sitting there tuning my guitar [in the studio], and then I looked around and saw Billy, Jimmy, and James.

"[3] Schroeder would remain in the band's reformed lineup for five years, in which time they released Cyr in 2020 and Atum: A Rock Opera in Three Acts in 2023.

"[2] When performing live, Schroeder plays Yamaha guitars, including a Revstar Standard, as his main instrument, a custom Pacifica, and an SG.