I Was having the same issues with the battery draining faster after the update. I checked on several other forums, and other people are experiencing the same problem. There have been many great suggestions on what we can do. For me personally, I did a reset of all settings, a hard reboot then let the battery drain until my phone shut down on its own. I then charged it to full. It now seems that I am getting the battery life I had with 5.1.1., which I felt was pretty good to start with. About two hours light use (a picture, some Internet , some standby and a few texts) and I am still at 100% I do have wifi off at the moment, but I find that having it on does not affect my battery life too much to begin with. Anyway, after the reset, hard reboot and battery drain/charge, I seem to be getting good battery life again.
I Would try these things first and see if that helps, before I would to a compete wipe and set up like a new phone.
I Personally like Apple too much to even think about the alternatives, so I would have probably suffered through the battery issue. Might have bought an external battery case. But for now, it seems that the issue has been solved for me. I wish others good luck