Manager Nigel Adkins will be grateful to come away with something, though, after Charlie Austin scored his fourth goal in as many games against the npower Championship leaders to give the hosts a deserved lead eight minutes after half-time.
The Clarets, still without a home win this season, had made a mockery of their lowly league position in the first-half and Austin's strike from six yards was just rewards for their efforts.
Southampton, though, had won six of their opening seven matches prior to today and Rickie Lambert headed against the bar shortly afterwards.
And Schneiderlin levelled proceedings when he finished from former Burnley defender Daniel Fox's cross from the left.
Both sides had opportunities to claim all three points but it was not to be and the spoils were shared.
The teams did not hold back in an enterprising opening and the talismanic Lambert should have headed Southampton into an early lead.
However, the striker could only put Fox's magnificent left-wing cross back across goal with the net at his mercy.
And his profligacy was nearly compounded when Chris McCann and Austin combined, with the latter's goalbound strike blocked by Jose Fonte.
Brian Easton then put through Jay Rodriguez, who had cut in from the left, but his shot cannoned off Fonte's defensive partner Jos Hooiveld as Burnley were once again thwarted.
Yet it was the hosts who were starting to boss proceedings although they failed to create another clear cut chance before the interval.
They were almost caught out, however, when Lambert's cross on the left was headed narrowly wide by Adam Lallana.
Eddie Howe's side continued to belie their poor start and Brian Easton's cross caused havoc in the visitors' area, with the ball cleared off the line from Rodriguez's effort before Easton hacked wide from six yards.
However, Austin notched his sixth goal of the season and continued his magnificent record against the Saints when he latched on to Rodriguez's knockdown before poking home from close range in the 53rd minute.
To their credit, Southampton created two opportunities to immediately draw level.
Frazer Richardson's snap-shot from just outside the area was well parried by Lee Grant.
But there was nothing the Burnley goalkeeper could do when Lambert pulled away from his marker but his header from Richardson's cross struck the bar.
Lallana then spurned two gilt-edged opportunities after missing the target from two free headers as the visitors continued to build pressure.
And They were rewarded for their persistence 10 minutes from time when Fox's cross fell to substitute Schneiderlin and he fired past Grant.
In a frantic finish, Andre Amougou headed wide as Burnley sought a winner, while at the other end, Grant saved well from David Connolly at the death.