A friend of mine (Hi Frederic Schneider ^^) wrote a little article on gameports.net
about the work conditions in the games sector, especially about game programmers, designers, artists and journalists. I also answered some questions. It is written in german and may only apply to Germany, but I guess it is not much different in other countries (relative low wages, not a good job security, lots of underpayed interns, long workhours).
Here is the article:
And here is a followup article: