In a large bowl, beat the carrots, sugar, oil and eggs until well blended. In a large bowl, combine the flour, baking soda, cinnamon and salt; gradually beat into carrot mixture until blended. Stir in the pecans. Pour 3 cups batter into a greased and floured 10-in. fluted tube pan.
In a small bowl, beat cream cheese and sugar until smooth. Beat in egg. Spoon over batter. Top with remaining batter.
Bake at 350° for 55-60 minutes or until a toothpick inserted in the center comes out clean. Cool for 10 minutes before removing from pan to a wire rack to cool completely.
For frosting, in a small bowl, beat the cream cheese, butter and vanilla until fluffy. Gradually add confectioners’ sugar until smooth. Frost cake. Store in the refrigerator.