Margit Schumann started her career in 1971 as a member of the East German youth national team. Competing in three consecutive Winter Olympics, she won two medals in the women’s singles event with a gold in 1976 and a bronze in 1972. Schumann also won four consecutive gold medals at the World Championships (1973-75, 1977) and won five medals at the European Championships with three golds (1973-75), one silver (1977), and one bronze (1979). In 2004, Schumann was among the first three inductees into the International Luge Federation (FIL) Hall of Fame, along with Klaus Bonsack and Paul Hildgartner.
After her retirement she studied sports at the DHfK Leipzig to became a luge coach. She started as a youth coach at Oberhof before she took over the East German national team prior to reunification. She was then employed at the sports support group Oberhof, and later at the district recruiting office at Zella-Mehlis as a psychologist.