Combine flour and next 3 ingredients in a bowl; set aside.
Beat sugar and oil in a large bowl at medium speed with an electric mixer until combined. Add eggs, one at a time, beating just until yellow disappears. Gradually add flour mixture, beating just until combined. Stir in carrots, pecans, and vanilla.
Pour batter evenly into 3 greased and floured 9-inch round cake pans. Bake at 350° for 28 minutes or until a wooden pick inserted in center comes out clean. Cool in pans on wire racks 10 minutes. Remove from pans; cool completely on wire racks.
Spread Cream Cheese Frosting between layers and on top and sides of cake. Chill at least 1 hour before serving.