Prospective roles were rare, and he was mainly designated to play boyish-looking teenagers or blond-haired heartthrobs. He struggled with his identity as an actor when Silver Spoons ended. His performance earned him two Young Artist Awards.

He played a starring role as Ricky Stratton, the son of a wealthy and eccentric millionaire, Edward Stratton. Schroder then became well known as the star of the television series Silver Spoons. He also starred as the title character in Little Lord Fauntleroy, alongside Alec Guinness. The following year, Schroder appeared in the Disney feature film The Last Flight of Noah's Ark with Elliott Gould. He moved to Los Angeles with his mother, but his father remained in New York City and kept his job with AT&T.

Following his role in The Champ, Schroder was removed from school by his parents in the third grade to focus on his career. He was nominated for, and subsequently won, a Golden Globe award in 1980 for Best New Male Star of the Year in a Motion Picture, becoming at age 9 the youngest Golden Globe winner in history. Schroder made his film debut as the son of Jon Voight's character in The Champ, a 1979 remake of the 1931 film of the same title. Schroder as a child actor in 1976 As a child actor