Leicester dominated the first half and were well worth the lead given them by David Nugent from the penalty spot in the 14th minute but Jamie Vardy missed a great chance to double the leader and Danny Ings levelled two minutes into the second half to earn Sean Dyce's men a point.
A frustrated Pearson said: "We missed our chances when we were on top and didn't work hard enough to stop the cross for their goal.
"You look at the game in its entirety and it was a good illustration that you have got to score when you are on top.
"We were excellent in the first half and I even think that we finished the game really well. All in all I still think it was a game we should have won. But we were playing against a very good side with good levels of resilience.
"I'm sure that Sean's pleased with the result and he might even think they could have done better. But I think our performance was pretty good.
"I am not going to complain too much but as I said it is about taking your chances. The good thing is that we are creating plenty of chances. We just missed that bit of killer instinct. We had some very, very good chances today.
"I thought Jamie Vardy was excellent and I would have loved him to convert one of his chances. That would have completed a very fine performance by him."