I have to agree. I've seen positions advertised via LinkedIn for 20k (GBP, but still!) and I'm not sure how you'd make that work in any big city, let alone London...
I worked in central london for RBI in part of Reed Elsevier and 2 out of 3 of my younger colleagues had access to family property in London which is how they managed to live in London.
Ironically I had a 70 mile commute and I got into work before the ones who lived in London 90% of the time :-)
