I certainly have to agree with the points - doing my FY in London was monumentally stupid decision motivated by clout.

The pay raise i got (2k extra) hardly contributes to living costs, if anything my yearly rent exceeds the london-allowance I got (thereby I lost more money than i gained).

As for the abusive environment, I have not particularly noticed this however I suppose I can imagine some of the consultants being somewhat like that just by their demeanour.

As for the "working like a dog", it would be more appropriate to say working like a prisoner sentenced to hard-labour. It is an absolute joke. However, that said I would say that this is the norm everywhere.

I would not recommend London if you are looking to save money and if you want to enjoy your hard-earned money.