Schmidt was hired as the head coach of St. Bonaventure in 2007. Under Schmidt’s leadership, the Bonnies have experienced significant success, including multiple NCAA tournament appearances and Atlantic 10 Coach of the Year honors. In 2018, Schmidt was named the National Coach of the Year by the National Association of Basketball Coaches after leading the Bonnies to a surprising NCAA tournament run. Schmidt is known for his emphasis on defense and his ability to develop players over the course of their college careers. He has also been involved in charitable work, including the Coaches vs. Cancer program and a fundraising campaign for cancer research at St. Bonaventure. As of 2021, Schmidt has a career coaching record of 286-234 (.550) over 17 seasons as a head coach.