In terms of work conditions, it can be as bad as any IT work.
It all depends on mow much both the producers and team members are willing to implement and follow structured/sane development pratices (this goes for both IT and game development). It's just that it's a bit easier to find that in IT companies than in game development ones, because those in the IT field have been getting spanked for more time already, and some (and I say some) have learned their lession.
The main difference is that usually pay is lower, but your work's results can be more satisfying and exciting (well, most of the time).