The 51-year-old, who oversaw back-to-back defeats and an early exit from the European Championship in Israel, will discover his fate in 'the next couple of weeks'
England lost 1-0 to Italy and 3-1 to Norway in their opening Group A matches despite having qualified for the finals comfortably, with the Young Lions recording two victories over Norway during an unbeaten qualifying campaign.
The former England left-back has publicly announced his desire to remain in the role, but Bernstein has refused to give Pearce any assurances over his future - though believes he has performed well.
|16/1||Stuart Pearce is 16/1 with BetVictor to be the next Wigan manager
“We will be sitting down as a Club England team in the very near future, I suspect within the next couple of weeks, to make that decision.
"Overall I have been very impressed with him, absolutely. I think his record has been good, he has won an awful lot matches, qualified regularly for tournaments.
"This tournament has been disappointing but I don't think it should be taken totally out of context in terms of his long-term deliveries, because on the whole he has delivered very well."
Pearce's hopes of keeping his position were handed a boost by Liverpool midfielder and England Under-21 captain Jordan Henderson, who gave the 51-year-old boss his full backing.
"He has been a brilliant manager since I've come into the Under-21s so I would love to see him stay on," said the Young Lions skipper.
"Obviously you can see his record - we got to the final a few tournaments ago and lost to a good team in Germany."