Surely when you're spending that amount on commuting you'd be better finding a local job, even if it pays less?
depends how much LESS.
Even if you include commute, car park, (and tax!) and the rest it's still very much worth working in central London for me. I assure you I wouldn't bother if the difference was only a couple of £100 a month.
What kind of jobs/industry are only available in London and nowhere else?
banking, finance, law firms, creative, marketing, recruitment, museums, hotels, some very high profile hospitals, foreign embassies...
Some jobs might exist in other parts of the country, but it's one business, 1 firm as opposed to a choice of them. Some roles simply do not exist.
Commute is shit, there's no other way to look at it - even if you try to make good use of the time and now waste your life
BUT earning decent money is definitively worth it
Not being stuck in a job you hate and being able to pretty much walk into another one is also very liberating (the only downside being that all these other jobs are pretty much around the same tube station..)
London is a great place to be, shame we can't all afford to live in it, but it is a nice work environment.
The solution really is to give more opportunities to work as much from home as possible and reduce the days you are spent commuting. And chose very carefully where you live so you have at least a guaranteed seat in the train...