Preheat the oven to 350ºF. Spray two 9” round cake pans with baking spray then place a parchment circle in the bottom of each pan. Set the pans aside.
In a large bowl, whisk together the oil, brown sugar, and vanilla. Whisk in the eggs one at a time.
1 ¼ cup vegetable oil, 2 cups light brown sugar, 2 teaspoons vanilla extract, 4 eggs
Add the flour, baking soda, cinnamon, nutmeg, and salt to the bowl and stir with a rubber spatula into smooth and thick.
2 cups flour, 2 teaspoons baking soda, 2 teaspoons cinnamon, ¼ teaspoon ground nutmeg, ½ teaspoon salt
Stir the carrots and pecans (if using) into the cake batter.
3 cups grated carrots, 1 cup chopped pecans
Divide the batter between the two prepared cake pans. Bake for about 40 minutes. The cakes should be pulled away from the edges of the pan, and the center should spring back to the touch.
Let the cakes cool in the pans for 15 minutes then flip them out onto a cooling rack to continue to cool.
Make the frosting while the cakes are cooling. Beat the cream cheese and powdered sugar together until smooth. Add the heavy cream and vanilla, then beat until the frosting is light and fluffy, about 3 minutes. Scrape down the sides of the bowl to ensure all the cream cheese is incorporated evenly.
8 ounces cream cheese, 1 ½ cups powdered sugar, ⅓ cup heavy cream, ½ teaspoon vanilla extract
Place one cake layer on a plate and frost the top with about ⅔ cups of frosting. Place the second cake layer on top of the first, then use the remaining frosting to ice the cake. Decorate with extra toasted pecans, and enjoy!