After defeats to Barcelona in the UEFA Champions League and Liverpool in the Premier League in the last week, Pellegrini has come in for criticism as City look set to end the season without a trophy.
However, Pearson, who guided Leicester to the Championship title last term, says he understands the strain Pellegrini is under.
"There is always going to be scrutiny on the big sides and people have told me they're in a bit of a sticky spell," Pearson explained.
"But a sticky spell for them isn't a sticky spell for us. Success is relative, they have two players for every position and quality there.
"On their day, they're an outstanding side. It always interests me to see how perceptions change.
"The pressures they're under now will be a bit similar to the ones you were alluding to that we were under last year, in the sense that there is an expectation to win trophies."
Pearson was also asked whether Leicester, who sit bottom of the Premier League, could draw on the expectation surrounding their title success last term in their bid to avoid relegation.
"I think so, but they are different types of pressure," he added.
"I've worked in these scenarios before and I think it is slightly different but ultimately the pressure you're under you have to be able to cope with.
"As I've already pointed out, the players being able to go out and play as well as they can is the acid test.
"My job as manager is to allow them to do that and as I've already said we have belief in ourselves.
"Time will tell but I think we've shown we've got plenty of character and ability. What we need to do now is translate that into points sooner rather than later."
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